Long Story Short, I got 2 Epheria's Star special barters around the same day.
I was planning on waiting for the last possible minute to cash in the 2nd one or at least close to when the other one is about to expire.
Captain Epheria Title and an Epheria Star special barter reward quest item at the same time
However, when I attempted to talk to Philaberto Falasi, he does not have the quest available.
I wanted to show off a screenshot of having 2 Epheria Stars but oh well v( ^-^)v
UPDATE: After AFK Fishing, my title ran out but the ship did not despawn but I could not take the helm
UPDATE 2: Philaberto Falasi now has the quest again
You also don't get the license again, you get the boat you already have apparently. Just need to recall it to a nearby wharf.
TL;DR: Cant get 2 Epheria Stars at a time; gotta wait for the first one to expire