I drilled a couple tiny holes in mine, several years ago, and have never had any problems since.
The tiny holes near the bottom of each mast section, and left open, let the water constantly seep out, so it doesn't accumulate in the mast. Larger holes plugged with a screw would have to be re-opened to drain.
I also drilled a tiny hole just above the top plug in the lower section, so water doesn't get trapped in between the sections.
With the Hobie Bob, the mast barely even gets wet in a capsize, and the tiny holes would only let in a few drops if it did.
What - Me Worry?
2006 Hobie Wave