Damn...I just noticed folks replying to this 4 year old post of mine and had hoped that, by now, there was a safe key storage solution for the LR3! No dice.
As mentioned earlier, it is obvious that we can bring this key in the water, but we're talking about a $350+ key if you lose it. I'd rather not bring it in with me and when the water is warm and I'm not wearing a wetsuit, there are even less places to stash it. I wouldn't trust it in a board shorts pocket even with the little bungee holding it in there.
Chuck, I'll keep my eye out for an LR3 flying a parafoil whenever I'm down there. This year, other than weekend trips I'll be there the end of April and Labor Day week. Looking forward to getting the rover back out on the sand...and of course doing some kitesurfing.
If you have found some key storage/safe solutions not discussed here, please share them! Heck, even if you want to PM me a good hiding spot you have identified I would greatly appreciate it.