Since this is a new kayak, why not contact you Hobie Dealer and ask them to shorten the forward bungee....Since I no longer have my Outback I can't look at it.....but I recall the bungee length can be accessed by unscrewing a "cover cap" on either end as the bungee is replaceable if broken.
So, don't just cut it without first removing the hardware.....Your Dealer will know how to accomplish this task.
I should add that, I will bet, the Dealers staff would "really help you" if you brought donuts or cookies too!
One way/idea to connect the closure/hold closed bungee, to the "button/eyelet post" that the cord is stretched around is to use some mechanical leverage to stretch the cord.
Think of using a cheap, strong stainless steel table spoon that you use to leverage the cord, over the post by placing the curved spoon on the post and then slide the bungee over the handle....lift the handle so the bungee slides down the spoon shaft and over the spoon, on to the post.
I hope you can visualize this