Fix it soon, or pay dearly later
If left ignored, you will probably have to shell out big bucks for fixing deck rot. Hugh has not shared what he had to pay to fix his, but I'll bet it wasn't cheap. You must pull the mast and fix it now, while the fixing is cheap and easy.I think the cause may be rain water that gets into the inside of the mast, and fills up at the bottom of the mast. When the water level gets high enough, it spills over the neck of the wire tube; or if the wire tube isn't caulked good enough, seeps down the outside of the tube and into the deck. Can you replace the wiring tube with a slightly longer one that sticks up a little higher, and then drill a drain hole in the very bottom of the mast? Be sure to caulk the be-jeevies out of the tube, and set up a maintenance schedule to pull the mast and re-caulk every 3 or 4 years.