This quest was marked obsolete by Blizzard and cannot be obtained or completed.
Speak with Baron Revilgaz in Booty Bay.
Baron Revilgaz has had me keep an ear out for rumors of the strange and out-of-place in Booty Bay and Stranglethorn. I don't usually put much stock in ghost stories, but I heard some sailors in the tavern talking about a haunted island off the coast. Water elementals and a raving goblin ghost, they say.
If you're going to go talk to Revilgaz, could you relay that story to him?