Too much work.
Steve is right, many hours required to remove stanchions, pulpits, and toe-rail bolts. And this assumes you can reach them all from below.I think Hunter used a butyl seal, almost like a piece of collapsed hose. The problem is the bolt holes when the bolts loosen, not the seal itself. I don't think you have to worry about "foot pounds", just tighten them with a 1/4" drive ratchet. You will need a 7/16" deep socket I think. Plus an extension or two and probably a universal, or one of those flexible extensions. I plan to add a fiber locknut to every third or fourth bolt and see if that helps. Let us know your fix.