Beginner working with Teak

Hi,
I am not a woodworker by any means but I have what I think is a pretty straight forward task. I need to make a piece of trim for my sailboat out of Teak.
The piece needs to be ~ 5"x30" and depending on what I can find somewhere between 0.5" to 1" thick. Other than some screw holes the only major modification required will be a 10"x1.125" slot (for a daggerboard).
How difficult is Teak to work with? I don't have a mill so any suggestions on the slot?
Any help would be appreciated.
Thanks, Jonno.
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Number of ways to make the slot.
Drill a series of holes and file out the rest of it. Drill a hole at each end and use a jig saw to removed the rest of it. Find a friend with a router and ask him to cut the slot. Often, these types of requests are made with the wood in one hand, a six pack in the other.
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Edwin Pawlowski wrote:

Boy the exchange rate is bad, around here it'd be a "slab"!
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Would mahogany work? Much cheaper and easier to work. My sailboat has all mahogany.
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