Four people were aboard the boat on January 22 when it collided with a channel marker guidepost near Creery Island in the Mandurah estuary.
Debbie Burdon, 54, died at the scene after falling into the water.
The body of fellow passenger Kylie Bazzo, 54, was recovered the following day.
A 47-year-old man allegedly driving the boat was taken to hospital with serious injuries while a 54-year-old man was uninjured.
Police said the 47-year-old would face Mandurah Magistrates Court on Monday charged with two counts of manslaughter.
Both women had volunteered for and managed sporting teams in Mandurah.
Ms Bazzo was the first woman to lead a WAFL club when she served as chief executive of Peel Thunder in the early 2000s.
Her son Rhett made his AFL debut for West Coast last season.
The 19-year-old lost his father, decorated WAFL player Steve Bazzo, to cancer in 2015.
West Coast last month said they were devastated by the news of Ms Bazzo's passing.
"The club's players, staff and board extend their deepest condolences to the Bazzo family and are offering every support to Rhett, his sister Kameron and their loved ones," the club said in a statement.
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