Yes

Much as you'd like the idea of Olivia spending the rest of her day bottomless, you're not going to lose her property. You set off after her, but she appears to be putting more and more distance between you. Your swimming is not being helped by the fabric trailing from one hand. You tuck the bikini bottom into your waist band, freeing up both arms, allowing you to gain on her.

She appears to be an excellent swimmer, and is certainly not as out of breath as you when you catch up. You float together out in the deep blue ocean, grinning at each other in the sunlight. It hits you that you really like Olivia, she's good looking, sporty, funny, and likely all those things in bed too.

Your erection, which had taken a break during hard swim is now back in full ****. "So do you still have my bikini bottoms?" Olivia asks with a wink.