yamaha alarm going off 90 2strk

So just had my carbs rebuilt. foot oil changed, thought i was ready to go for the summer. Took it out yesterday in the afternoon. Ran great around the landing waiting on my buddy with the truck. as soon as he gets in the boat the alarm goes off. Oil is full, gas is full, but then the pee coming from the engine goes from really hot to normal then really hot to normal again. eventually it is super hot. I assume this is overheating… So what makes it over heat after just a few minutes in the water. I have heard that the impellor is old and worn or it is a thermostat. how hard would this be to DIY? I would hate to send it right back to the shop. Any advice would be appreciated.

sounds like an overheat isssue definately
if it comes and goes, could be a t-stat
how long since waterpump was changed

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