Mahi Mahi is a tropical fish that lives in warm water. At times it is referred to as "Dolphin Fish" or what it is known to sport fishermen in Mexico as "Dorado." Mahi has a pink pale color meat that cooks up to be white and flakey and has sort of a mild to sweet flavor to it. Mahi's meat is dense like Swordfish, but flaky like Halibut.