Hey Wet,
To get the comptip out, get yourself a good quality Cobalt 3/16 drill. Don't get the 'pilot point' Dewalt drills, they snag on the rivet and break every time. Drill out all of the rivets and pull off the tang. Break out the torch and evenly heat the extrusion until you see the glue start to get soft. Shouldn't take much heat--around 150-170F +or-. GO EASY! Remember the comptip extends about 8" into the extrusion and is glued it's entire length. Below that there is a foam plug that is better not to get the torch near. Then work the comptip out of the extrusion. Wiggling works well. You may have to tie the base of the mast onto something solid so you can put some force into it. In the extreme case, I have drilled a 3/4 inch hole through the comptip about a foot from the tip and threaded a line through. Then I tied it to the bumper of my truck. You shouldn't have to do that since your boat is a 2005.
Install
Use the rivets that you received, they're probably right. Hobie doesn't even stock any other rivets in that length that I know of. Part # should be 8010181.
The proper installation should be Mast-Cap-Hardware-Rivet. I usually install the cap with a dab of silicone and the rivet in the cap with a dab of Lanocte. I also put a film of Lanocote on the back side of the hardware where it contacts the mast. I have used the insulative tape like comes stock, but oftentimes the tape will still be on the mast so I just douse the hardware with Lanocote.
What glue are you using?
Someone told me bondo works. I'm skeptical as bondo gets brittle. Another guy told me 5200. Good luck getting that sucker out if you ever have to. I use thickened epoxy. The epoxy that comes with the comptip install kit is the perfect stuff. It remains slightly rubbery, yet makes a tremendous bond. And, if need be you can heat it up with a torch to about 160F and it comes apart.
Dry fit the comptip before you start mixing any epoxy. You may have to file a bit on the comptip. It should be snug, so don't go crazy.
Hope that helps.
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