Dear NY1T:
Repairing the mast "sinking down" issue isn't a job I've done yet on my 1980 H36. It's still OK for me but I'm aware of the potential.
However, I'll make some observations which may help your quest for the eventual solution. Hope I'm not venturing topics you already know about.
First off, you've mentioned both "mast step" and "piece below the floor".
1) To my understanding, the mast step is the fitting into which the mast fits. As long as the standing rigging is applying enough downward pressure, this fitting, which on our boats is fastened onto the cabin top deck, secures the mast base so that the mast base doesn't slip around fore/aft/port/starboard or jump up and hence out of the fitting. Our Cherubini Hunter 36's have what's known as a "deck stepped" mast. Other boats, such as the Cherubini Hunter 37, have keel stepped masts. Even though the Cherubini 37 mast height from the waterline is about the same as our 36's, their masts are actually about 7-8 feet longer than ours because the mast extends continuously through the deck and "steps" onto the boat's very bottom above the keel -- rather than on the deck.
On our model, it is possible that years of water entering into the cabin top wooden deck core around the mast base will cause rot which would allow the deck step fitting to compress an inch or two on the deck. You would be able to see this as a distinct depression right around the mast base.
2) For deck stepped boats, below the deck directly under the mast is a "compression post" which extends from the underside of the deck to the bilge. The post transfers the downward pressure of the mast/standing rigging to the bilge above the keel. On the Cherubini Hunter 36's (or at least on mine), the compression post material is what looks like a standard piece of 3" galvanized iron plumbing pipe; much like I've got under my 1962 built house as the primary drain pipe. If the bilge is not kept dry, the bottom of this compression post pipe over time rusts and then can collapse a few inches. This is likely what is happening on your boat. On my boat when I bought it, by the water mark line in the bilge well, the previous owners allowed two-three inches of water to remain in the bilge at all times. The bottom of the compression post I expect was often wet. I put in a small bilge pump at the very aft end of the bilge well that can bring the water level down to about 1/2" at the aft end. At the forward end of the well, I now have 0" at all times and the area is always bone dry. In the five years of my ownership, the bottom of the compression post hasn't really changed. Surface rust is visible, but by poking the bottom with a sharp awl, I've still got solid metal down there. So should be ok for a while yet.
As to repair:
- Mast stepped boats are very common. If your deck area looks good, then the subsidence of the mast is likely due to the compression post base collapsing due to rusting away in the bilge. A search of this site or the internet should reveal compression post repair techniques. I have read that this usually means that the mast must be removed first. If my compression post ultimately goes, before going the professional route, I will be tempted to first to loosen the standing rigging, then use a couple of car jacks and a couple of 4/4's to see if I can "jack up" the deck enough to remove and replace the compression post. Rather than replace the post with galvanized steel, I probably would opt for a 4x4 piece of IPE lumber. IPE is used for high-end home decks. This stuff is rock hard (think 1920-30's airplane propellers) and is very resistant to water rot. Maybe I also would first soak the bottom end in Copper Green wood preservative for a few days to add even more protection.
- If your deck right around the mast base looks radically depressed, then its likely you've got some core rot in the area. The mast and the mast step fitting will need to be removed. The top skin gets cut away, the rotted wood core scraped out and then replaced with new material ... or even flood the area with thickened epoxy wood make the area even more solid and impervious to future rot? Then the top skin is replaced.
- Since the mast step fitting on our boat stays on the deck and is made of aluminum, I would think the actual "step fitting" condition should be good. However, a mast step that's in a bilge is a different story. The salt water can corrode them. A way's back one forum member posted in great detail about a neew mast step fabrication. I think in this case, the corrosion from bilge water also ruined the bottom few inches of the mast. The solution was very creative and done well. You should be able to search for the thread if interested.
Let us know how you get on!