I would do anything to keep the tree out of the water. The times I've dropped trees or tree parts into the water, all you're asking for is added work, wet gloves and cloths, tree debris and toxic irridescence on the water from your bar oil. Everything is heavier and messier. I can understand the fun and experience part of it all, but at the expense of creating more work than there is to begin with.
I'm looking at a 60 foot pine out my window right now. All logic tells me lay a tarp, limb it out from the bottom-up. Stack the brush below. Drop lengths of loggage onto the stack of boughs for a zero impact job with all the mess in one tight area. By the time you get a line set, the jetski set and in place and rigged and get ready to cut, most arborists would have already had the thing limbed out and popping off chunks. Use a vertical zipline if you want to be extra careful. Or put down a sheet of plywood with a few old tires. It's only a 50-footer. Droppin it across an area just extends your zone of cleanup and lawn repair. Cleaning debris out of the water is no fun either.
I would politely ask if you could just use the jetski for a zip around the lake. If they're willing to let you use it for the tree, I imagine they'd let you use it for a few minutes of non-work fun. Go for swiftness, efficiency and professionality. The use of the jetski sounds novel, but for the 10 second rush, well, I dunno.... maybe you'll learn something that you wouldn't have otherwise. There's value in that. Do let us know how it goes.