Can we use Rivnuts to replace S/S rivets?

Sad day, last Monday, putting the H18SX away for the winter.....

When we lowered the mast, I noticed that the metal strap (which secures the bottom of the Hobie Bob rod) was loose.
One of the rivets had worked it's way loose, likely because when I originally mounted the Hobie Bob, I did not 'pull' the rivet strongly enough.
The other rivet is so-so.

Jumped into my tool-box, and quickly grabbed a 3/16th alum rivet....which did not hold at all.
Mmmmm, the hole is now slightly larger.

Options? move up to a 1/4" rivet
OR can I use a Rivnut?

_________________
2015 H16, with spin,
SOLD 1989 Hobie SX18 Sail # 1947 "In Theory..."
'Only two things are infinite, the universe, and human stupidity. But I'm not sure about the former.'

Unless you want the ability to take the strap off, I'm not seeing the advantage of a rivnut. I've never used them, but don't they just install through a similar crimping action as a rivet but leave you a threaded insert. You'd still have to go up a size if the hole is too big.

Let me add: to install a 3/8th rivet is normally straightforward, even if the rivet is made from S/Steel.
My Tornado buddy has a scissor style gun.

A 1/4" rivet means a different head and a medium or large size scissor or lever style rivet gun, or an air gun.
Rivnuts allow one to install using wrenches.

My preferred route would be to re-install a 3/8 with sleeve, plus a dab of silicone, only this time do it right.

_________________
2015 H16, with spin,
SOLD 1989 Hobie SX18 Sail # 1947 "In Theory..."
'Only two things are infinite, the universe, and human stupidity. But I'm not sure about the former.'