This sound like blush for sure which is moisture captured in the
finish before it has a chance to evaporate. I've only seen it with
lacquer but maybe this "fast dry" is acting like lacquer and skinning
over very fast, not allowing the moisture to evaoprate. With lacquer
we add a retarder to slow the skinning to allow the moisture to
escape. Typically only seen when you have high humidity.

A few possibilities a
- Moisture in material. I guess unlikely if this was the first time it
was ever opened.
- Shelf life problem and something went bad in the can.
- High moisture content in the wood.

I am not familiar with this product. Is it water based? If it is oil
based, maybe try thinning it with some mineral spirits to maybe
increase the open time to let the moisture escape. If water based, is
there a thinner you can use, maybe flowtrol or something? Also, is
this semi-gloss or satin? Those sheen killers are just white paint
pigment so maybe somehow it got out of balance and you got all of it
in one coat.

On Feb 13, 10:00*am, "bw" wrote:
Purchased last fall, opened yesterday. Stirred as usual, looked ok.
Applied with foam brush on test piece of medium pored teak-like wood.
Set aside at room temperature and it immediately starts to look like I
coated the wood in white soap.
What the hey. After a couple hours no change. Almost looks like I painted
the wood with white lead.

I've used this produce before without problems, but it "might" be some kind
of reaction with the wood.
The wood was purchased at a farm sale in a batch of other hard woods that
could have been over 30 years old. Some mahogany and what I thought was teak
but I can't imagine what the heck happened.

Maybe return the can to the store and try another batch.