Stanchion refinish

What is the best way to refinish the mahogany stanchion?  What should I use for new coating?Thanks

According to the website it's varnished mahogany.  I would expect any top-grade spar varnish would work well.  I just used Cabot varnish to refisnish my old tiller and the new one I carved.  I would take out as much hardware as you can - which may only be the centerboard winch and sand.  Varnish is nice because you don't have to get all of the old removed, just what is flaking/loose or unsound.  I don't think I woujld recommend removing the screws that mount it, however.  Something tells me that could weaken the boat.