Hey Monkeykiter... use a monkey wrench!
Seriously, that's what I used, but mine doesn't open the full width of the cap, so I tightened it on the raised narrow bit where the shaft goes in. There's a few scratches there now, but at least I got it open.
I found heaps of sand and bits of rubber from where the sand had worn down the main seals, so I took the main seals off the piston, and wrapped some plumbers thread sealing tape around the grooves in the piston so that the worn down seals will press out against the body a bit harder and form a better seal.
Then I thought, what the hell, took the whole lot completely apart and put the thread tape on everything that needed a seal or had a thread. (The things we do on low wind days

)
I'm also going to get a piece of stocking and stretch it over the "deflate" hole to filter out any sand from coming in.
Instead of a wrench, you can get a tool from Bunnings that looks like a strap with a handle on it, which you wrap around circular-ish things and when you pull the handle (in this case arrange it around the larger part of the main cap and so you pull it anticlockwise), the strap tightens and forms an all-round grip on the object and it should come free easily. I don't have one of these tools, and I don't know what they're called, but I know I want one.