Hull Speed is not a speed limit. It is an efficiency rating based on the wave length of your wake. As a hull moves through the water, it creates a series of waves. The faster the hull moves, the longer the wave length of the wake. Once the hull's speed is such that the wave length is longer than the waterline length, the hull is effectively trying to drive up the bow wake. The motor or sail, is pushing uphill against water resistance and gravity. That is the point at which power to speed begins to really fall off.
You can certainly get a boat to go faster than Hull Speed, but it takes more and more power until you've added enough power to drive the boat to the top of the bow wake. Then, you're planing, and the energy to speed curve plunges back down again. That is, unless the hull design drives the boat under the bow wake, then you slow right down to the bottom.
-Will