This paper reports on an exact, real-time solution for server-client cooperative localization over a faulty and extremely bandwidth-limited underwater communication channel. Our algorithm, termed the origin state method, enables a 'server' vehicle to broadcast its navigation information to multiple 'client' vehicles over a bandwidthlimited and faulty communication channel. The server's broadcasted pose-graph can be used in conjunction with an estimator on the client to exactly reproduce the corresponding server-client centralized estimate. We present an evaluation over an extensive real-time field implementation of the proposed algorithm for a multi-agent autonomous underwater vehicle network using underwater acoustic modems to communicate in a synchronous-clock transmission framework.