It’s not clear that this was intended as humorous, yet John Carradine’s obvious playful attitude throughout this story of ridiculous seafaring makes it difficult to disagree. Gale Sondergaard is striking as the proprietor of a disreputable South Sea island establishment who joins forces with some divers searching for millions in gold. There are numerous plots and twists, alongside the unforgettable image of Sidney "Charlie Chan" Toler wearing a damp beach towel. The special effects are simple, especially later on—but I would still recommend watching it; particularly if you’re up late and have had a drink or two.

Source on TMDB