2.7^3 = 20 times the volume. But only 7 times the mass. So its density would be only 35% of Earth's density. Earth's density is 5.5g/cm^3. That makes this planet's density 1.9g/cm^3, which looks about right for an object that is partially rock and partially water.
But this ain't a waterworld, it's a steamworld. Imagine the greenhouse effect from all that water vapor!