I recently purchased a boat with a 2000 model Yamaha 225 VMAX. It runs great but it has lost power 4 times while on plane. It feels like the motor dies but when the boat sits back down in the water the motor is still running at idle. I can immediately accelerate back up and take off again. Kind of feals like it runs out of gas but it is still running. Any help with this would be greatly appreciated.

Check the fuel pump and/or fuel filters. When is the last time the fuel system was serviced?

pull the vst tank and clean the filter on the bottom of the pump. it twists off with a 1/4 turn and the screen rotates so that you can blow it out with compressed air.
you really need to replace all the filters and screens, but the vst thing is easy and will tell you if that's the problem. stalling out at speed is a definite vst symptom.
go on The Hull Truth web site and do a hpdi search---you'll get volumes of good info and step by step instructions.

I just bought the boat from the original owner. I am not sure he seemed to take pretty good care of it so it probably has been done before just no idea how long it has been. I will check the filter and low pressure fuel pumps this afternoon. Thanks

First thing to do is clean the cranking battery connections and throw away the wing nuts, get good nuts and tighten them good. Have had Yamys and Mercs do this because the ECM was losing its voltage because of battery connections.

After you address the problem at hand, it's probably a good idea to work through a list of maintenance items.

Here's a link to the maintenance schedule.
http://www.simyamaha.com/Maintenance_Schedule_s/1840.htm

Chances are that the injectors have never been cleaned or flow tested either. I used Brucato and would recommend them. I found that 4 of my 6 were running rich when I did that.
http://www.brucatofis.com

I don't know if this model has an o2 sensor might want to check and clean it