In Long Island City, New York, Joe Banks walks with a herd of expressionless factory workers through the gates of the medical supply company American Panascope, "home of the rectal probe." When Joe steps in a puddle of mud, he raises his arms toward the sky in exasperation. Inside the advertising department office, Joe’s senses are disturbed by fluorescent lighting, bad coffee and a demanding boss, Mr. Waturi. When Joe says he is ill, Waturi complains that Joe is always sick and disparages his work. Later, at an appointment with Dr. Ellison, Joe explains that he has been ill since he left the fire department and is diagnosed with “brain cloud,” a terminal disease with no symptoms, and hypochondria. Joe is given six months to live. Following Dr. Ellison’s advice to enjoy his remaining days, Joe heads back to the office with a newly found appreciation of life, quits his job and asks the secretary, DeDe, on a date. That night at the Fire in Paradise restaurant, Joe tells DeDe that he feels great and pays a Mariachi band to serenade them. Back at Joe’s apartment they kiss, but when DeDe learns of Joe’s imminent death, she promptly leaves. The following day, businessman Samuel Graynamore unexpectedly arrives at Joe’s apartment and calls him a hero for saving three children while working as fireman. Graynamore knows Joe is newly unemployed and claims Dr. Ellison told him about Joe’s condition because they would make a good match. Graynamore wants to hire Joe to jump into a volcano. Graynamore explains that a precious element required for manufacturing superconductors called bubaru has been located on the small South Pacific island of Waponi Woo. According to Graynamore, the Waponis are a peaceful people but they are convinced that their volcano, the Big Woo, contains an angry fire god who demands a human sacrifice every hundred years. If the god is not appeased, he will sink the island. Graynamore says that it has been ninety-nine years, eleven months and eleven days since the last sacrifice and the Waponis are anxious. He proposes that Joe act as their sacrificial hero as a form of compensation for the bubaru. At the price of Joe’s life, Graynamore will own mineral rights to the island’s natural resource. Graynamore argues that Joe’s heroism in the fire department makes him perfectly suited for the job because he has experience jumping into fires. When Graynamore offers Joe unlimited credit cards, a chartered yacht to Waponi Woo and the opportunity to die heroically in a tropical paradise, Joe agrees. With his new prosperity, Joe rents a Rolls Royce limousine. He requests advice from his chauffeur, Marshall, about clothing styles but Marshall refuses to dictate Joe’s identity. However, Marshall takes him to the designer store Armani and Joe buys himself and his chauffeur matching tuxedos. After a day of acquiring superfluous items at expensive boutiques, Joe gets his long hair cut short and purchases four handmade, watertight steamer trunks. When Marshall drops Joe off at an exclusive hotel, Joe asks him to dinner and admits he has no one else in his life. The next morning, Joe flies first class to Los Angeles where is met by Graynamore’s flighty daughter, Angelica. At dinner, Joe learns she is a poet and painter. Afterwards, as they look out on the city lights, Angelica claims she is considering suicide because of her financial dependence on Graynamore and Joe suggests that she do something she is afraid of. Angelica offers to come to Joe’s hotel room for the night, but he refuses. Instead, Joe sits on the beach and watches the sun rise. The next morning, Angelica shows Joe a painting of his face superimposed on the sun and informs him that her half-sister, Patricia, will be captain of Graynamore’s yacht, the Tweedledee. Angelica takes Joe to the dock and introduces him to her doppelganger, Patricia, who insists on calling him Felix. He asks for good luck and kisses Angelica goodbye. On the voyage, Joe learns that Patricia agreed to sail to Waponi Woo only because her father promised her the Tweedledee in return. As Joe lies in bed that night, Patricia expresses concern about the mysterious nature of the excursion and her obligation to her father. She is happy to learn he did not sleep with Angelica. The following evening, Joe explains that he will not be returning from the island. When Patricia leans forward for a kiss, Joe confesses the details of their voyage and what he has been hired to do. Patricia quickly retires to her cabin. In the morning, Dagmar, the yacht’s navigator, tells Joe that they are facing a typhoon. Waves crash over the boat as Joe and Patricia kiss passionately and Patricia is knocked overboard by the mast. When Joe dives into the water to save her, the ship is struck by lightning and sinks with the crew. Joe’s steamer trunks float to the surface and he ties them together as a makeshift raft. Riding aboard the trunks over the next few days, Patricia lies unconscious while Joe rations a bottle of water and puts the items from his New York City shopping spree to use. Hallucinating, Joe sees an enormous full moon rise over the Pacific and raises his arms toward the sky, thanking God for his life. Patricia regains consciousness the following morning. As she forces Joe to drink, the couple is spotted by a menacing Waponi warrior. He alerts his tribe to their arrival and the Waponis celebrate. After confirming the castaway is Joe, the couple is given a hero’s welcome and Baw, the Waponi advance man, leads them to the Chief. Standing beneath the Chief’s throne among an array of dead bodies, Joe learns that he will jump into The Big Woo after a feast that night. Joe is bathed and subjected to pranks by the Waponi men while Patricia is manicured and pampered by the Waponi women. Joe arrives at the feast in his Armani tuxedo. The Chief calls upon the Waponis for a hero to replace Joe, but no one volunteers. When the volcano shakes the island, Joe exuberantly initiates the sacrifice and is guided to the mouth of the volcano. Patricia breaks through the crowd and announces her love for him. Despite her protests, Joe insists he must stay true to his word even though he has fallen in love with her too. As Joe proceeds toward the volcano, Patricia proposes and urges the Chief to marry them. Joe reluctantly agrees. After a brief ceremony, Patricia again attempts to talk Joe out of jumping, but he remains steadfast and Patricia decides to go with him. However, at the moment they jump, the volcano erupts, blasting them into the Pacific. Amazed that they are still alive, the couple treads water and watches the island sink. Although Joe fears they will drown, Patricia is convinced they will survive and the four trusty steamer trunks burst to the surface of the ocean once again. As they sit on the trunks, Joe tells Patricia about his brain cloud. Even though they survived the volcano, he is still going to die soon. When Joe contemplates getting a second opinion, Patricia recognizes Dr. Ellison’s name and says that he is Graynamore’s private doctor. She concludes that her father set Joe up. Although Joe feels victimized, Patricia explains their discovery is good news because Joe has his entire life ahead of him, provided they can survive their stint on the raft. Joe vows to bring the steamer trunks with them wherever they go and they kiss under an enormous full moon.