Repairing

http://mabinogi.nexon.net/Community/forums#%2Fshowthread.php%3F1397801-Straw-Hat-repairable%26p%3D11605134%23post11605134

link is broken since nexon changed forum

Good point - I think the post talked about how one version (or maybe both versions) are only Repairable during certain Summer months (June, July, August, maybe?). Other months the item will appear Irreparable.

Basically this is a really friggin weird item. So, until it's released again or more accurate info is available (like, dates), I'm fine with just ignoring this thing :D