I usually
Ross,Option #1- If the hole is round I affix a piece of wood larger than the new hole to be drilled to back side of the bulkhead. I then screw a centered piece of wood to it's face thus bringing it flush with the face of the bulkhead. By doing this I now have a piece of wood, as you would drilling a virgin hole, to drill into with the pilot bit and keep it centered so the hole saw does not wander.Option #2- I drill the proper size hole, with my hole saw, in a piece of plywood that is larger than the hole then affix this to the back side of the bulkhead. I Then use my laminate trimmer or router with a bearing guided flush cut bit to trace the hole from the patterned board residing behind the bulkhead...P.S. If you use a hole saw to drill through gelcoat ALWAYS cut through the gelcoat layer with the drill spinning the hole saw in reverse! This eliminates chipping the gelcoat and leaves a perfectly clean hole. Once through the gelcoat simply flip your drill back to forward. I learned this trick a long time ago for drilling through laquer painted finishes & upholstery in antique autos..