Depends on what you are trying to do to it. Is it going to be a quicky paint job and you don't care if it flakes off and scrapes off easily? Or is this a boat that you are going to keep and only want to paint it once? Budget?
I worked for several years working for a company that built custom ambulances as a painter, all the mods(bodies) were made from aluminum. Aluminum is great stuff to build with be it has certain drawback, the biggest one is it's poor adheasion properties. It's also a self-healing metal. So that pretty much means you have to sand it very good and it must be painted within a 24 hour period or 48 hours max, otherwise you have to resand it. At least in our application, these were very highend ambulances and a large part of or reputation was the paint jobs.
Anyways, it's best to sand aluminum with 150 grit sandpaper and a DA(daul action) sander; a ordital or jitterbug will work fine, it will just take you longer. Then you have to clean the metal with a degreaser. Aluminum has to be primed twice unless you are using a DTM(direct to metal) paint. The first primer is an acid etching primer, they are a transparent greenish-yellow and smells like rotten eggs. Then you prime with a primer of your choice and paint over that.
If you have a budget of a few hundered dollars I would recomend going with a quality acid etching primer made from a manufacturer like PPG, DuPont, Sikkens, Speice Hecker or Sherman Williams. I'm not sure of all the companies names of the acid etch primer but DuPonts is called Color Wash primer and Sikkens is CR primer. Then you can finish it off with PPG's DP series of expoxy primer, they have different numbers depending on what color the primer is. DP40 is a greenish grey, DP90 is black, they have a grey, white and red oxide colors also. I painted my ATv with DP40 last summer and it's held up to some pretty good abuse from tree branches in the woods.
If you want the paint to stick to it, the very minium is an acid primer under cheap paint and primer. Another option is using some old school alcyd oil based enamel, that stuff sticks to most anything.