These foiling boats are all made of carbon fiber.... way, way lighter that your typical older beach cats.... on my old Nacra 5.2, one new replacement dagger board will run you about $450(gel covered foam core). For boats with carbon fiber parts, such as the Inter 20, a single carbon fiber dagger board is well over $700 to replace.
In addition, if you study the design features of the boat in the video, you'll note that the mechanism that controls the foils is more sophisticated than the bungee tension system used on most beach cat dagger boards.
Regarding converting a Hobie.... you would need one that was already set up for daggerboards.... such as the Hobie 18.... but it will probably still be too heavy.
What I would look for is a current generation boat with the lighter weight carbon fiber hulls or even a recent model Inter. If you view some of the videos related to yours there are some interesting postings.... one is an A cat (single sail, single handed) that has been equipped with lifting foils.
So.... I guess what I'm suggesting is that just changing out the dagger boards for lifting foils is just part of the equation to get your boat flying..... a big sail plan on a lightweight boat, a system to support the boat on the foil once it gets airborne and, of course, the bank account and technical ability to develop the right foil for the chosen boat.
A bit daunting, but not impossible, because you have proof that others have been somewhat successful at it already.... albeit not on a Hobie 16.... yet.
Regarding the conversion on a displacement monohull.......uh... it seems likely that you would need a boat that could get up on plane for the lifting foil to perform..... that's why you see them on multi hulls or lightweight dinghies such as the Moth.... rather than a Catalina 30.
Finally, the $25k price tag for the Flying Phantom I seems reasonable, considering the technology..... the real question is does one have the skills needed to sail this boat? I encourage everyone to take a look at the Nacra 17 videos.... this is the new Olympic mixed multihull class.
http://www.nacra17class.com/