The Bahamas Flag Is A Colorful Representation of Its People and Environment
The design of the Bahamas flag is a black equilateral triangle against the mast superimposes on a horizontal background made up of two colours on three equal stripes, aquamarine, gold and aquamarine.
Black, a strong color, represents the vigour and force of a united people; the triangle pointing represents the enterprise and determination of the Bahamian people to develop and process the rich resources of land and sea, symbolized by gold and aquamarine, respectively. The above explanation of the was quoted directly from the The Official Website of The Government of The Bahamas. 
The one we fly on our boat is called a courtesy flag and does not look the same. It is red with a white cross and the Bahamian ensign in the upper left hand corner. Courtesy flags are flown by visiting yachtsmen is foreign waters. When in foreign waters the courtesy ensign, often the national flag of that country, is hoisted under the starboard spreader of the most forward mast. On a mastless powerboat, the courtesy ensign replaces any that is normally flown at the bow. Like the national ensigns, the courtesy flag is hoisted at 08:00 local time and lowered at sunset. Yet, when maneuvering - for example entering or leaving port - the national ensigns should be flown even at night until your ship is out of sight or safely at dock. 
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