We propose an efficient semi-Lagrangian method for solving the two-dimensional incompressible Euler equations with high precision on a coarse grid. The new approach evolves the flow map using the gradientaugmented level set method (GALSM). Since the flow map can be decomposed into submaps (each over a finite time interval), the error can be controlled by choosing the remapping times appropriately. This leads to a numerical scheme that has exponential resolution in linear time. Error estimates are provided and conservation properties are analyzed. The computational efficiency and the high precision of the method are illustrated for a vortex merger and a four mode and a random flow. Comparisons with a Cauchy-Lagrangian method are also presented.