Mike,
I see your question has fallen on deaf ears so I'll give it a try. What follows is my warped view:
1. I resist trying to make something into something it's not. Mahogany is not teak, never will be. You can make a monkey wear a tie but it's still a monkey. For me, I'd spring for the teak. If I only needed a little, I'd canvass the dock and elsewhere to see if anyone else can use the offall, maybe share the cost.
2. Moving away from that position, there are some popular substitutes. Sapele and Afromosia come to mind. They'll cost less than half the price but may be harder to find than teak.
3. I've never found the substitutes in plywood, only solid stock.
4. Afromosia is readily available at Strata Forest Products in Santa Ana, CA but "I don't think we're in Kansas anymore." Shipping would likely drive the cost up into the teak neighborhood and you're right back where you started.
How soon do you need the wood? I've got a project in the planning phase that will use maybe a half sheet of AA teak plywood, would be interested in moving the rest along. Have the ability to cut to size as well.
Interested?