Ok..if you have to have a fixed mounted radio, up the mast is the right way of doing it. But you're going to be adding weight aloft and height to a small boat. However, remember you have to clear everything else up there (esp the wind vane). You'll have to figure out where the coax cable will come out of the top, and either tap or rivet a base up there out of the way of the halyards. If you can find it, there might be a run inside the mast to keep the coax from interferring with the halyards (my 260 has one that I've run the electrical cable through). If you do that, pull an addtional messenger line along with the coax to make running anything else there easier the next time.
Ok..now the cable has to come out of the bottom of the mast somehow. Since my 260's mast is designed to be raised and lowered, the light cable connects starboard of the mast. I'd have to drill another hole in the deck and put a disconnect beside the power. So, figure out where you want the disconnect and make sure the coax exits on the right side of the mast (unless you can go from the mast directly through the deck..again, not familiar with 23.5).
Inside the cabin, you have to decide where you want the radio. Right inside the compaionway is probably the best place (easy to get to while at helm). I'm picky, so I wouldn't run the coax outside the liner, so you've got figure out how to run the coax. Then, you have to run power from the fuse/breaker box.
As far as parts go, just make sure you buy marine quality parts, properly seal any deck penetrations and use marine grade wiring (both coax and electrical). Finally, but the radio and antenna as a package to ensure you've got the right db antenna for the radio and you're intended use (if I remember right, higher db = more range, but at the cost of in close transmission).