I just purchased a new home (3yrs old). High quality construction all around but I am baffled at what is happening with the Mahogany front porch (covered).

Deck appears to have been stained and finished but finish and stain have worn off at the edges (turning gray) and the finish (can't tell what it is) seems cloudy and a little streaky... almost like the decking is covered in pollen or something (but it doesn't wash off).

Not sure what is happening but pretty sure I need to refinish it (if nothing else, for appearances).

But I don't know what to do? Sand it down? Restain? Put on another kind of finish over the stain? Help... have never had Mahogany deck so don't know how to care for it.