The Gulf States would have to get serious about their militaries, building more competent navies and air forces, those two are the least threat to the ruling class. They also need a more robust air defense system. They would still fear having a competent army. However they might be forced to get one if they want to be able to deal with Islamic Regime.
First thing I would do is get UAE/KSA to sit down and stop being stupid in Yemen and build a strategy to start really squeezing the Houthi's. First by making the the other Yemen players work together, taking out ISIS and generally improving life for the average person there. Start to offer large bribes to the various tribes that are part of the current Houthi territory to switch sides. Then start military operations to clear the Red Sea coastline of Houthi Influence.
At the same time, make a deal to ship oil by pipeline for the UAE/other Gulf States to the Red Sea and expand both pipelines and terminals to and at the Red Sea, so more oil moves that way, lessening the ability for the Islamic Regime to interfere with oil shipments.
Here is a AI generated overview of existing terminals in the Red Sea.
The Red Sea features several critical oil terminals, with the primary hub being Yanbu in Saudi Arabia, which plays a major role in bypassing the Strait of Hormuz. While there isn't a single definitive count for all minor terminals, key installations include Yanbu in Saudi Arabia, Bashayer in Sudan, and Sumed in Egypt, which are crucial for regional and international oil exports.
U.S. Energy Information Administration (EIA) (.gov) +3
Key oil terminals and pipelines in the Red Sea include:
These ports serve as critical alternatives for bypassing the Strait of Hormuz during regional tensions