"Sharkey" arrived at Guantanamo on 11 January 1928 and operated with the fleet in the Caribbean until 31 March. After training reserves off Norfolk and Newport, she underwent overhaul at Norfolk from 29 July to 2 October. She exercised off Charleston for two months and returned to Norfolk for the Christmas holidays. Underway on 4 January 1929, "Sharkey" transited the Panama Canal on the 20th and participated in Fleet Problem IX and combined fleet exercises off Panama. Again transiting the canal on 7 March, she continued exercises with the fleet in the Caribbean until 27 April. After exercises and reserve training cruises on the east coast, she entered the Norfolk Navy Yard on 22 July for overhaul.