Yes. provided it reaches WOT rpm.
I know Miami Beach Marina well and 208 volts is very common there during the summer. It's a combination of the low voltage, dirty chiller coils...
It sounds to me like the bearing is going bad on the raw water pump and the seal is leaking and it's sucking air. Is the front of the pump all...
With the insulator wax, rub it on there a little to work it in, let it dry completely and rub off with a microfiber. It goes on and off pretty...