Water
Hi, I have a 26x 2001 model also. The hole is there to warn you that you have water in the bilge. The source of that water however, can be most anything. You might be getting water from the ballast plug if it's not secure, through any of the deck fittings, including the bow eye, engine mounts, etc. etc. You need to get the boat absolutely dry if possible and then examine each spot by running a hose over it while someone inside watches for leaks. Another way is to sprinkle talc powder around the fittings and then check for the telltale signs of water. Mine actually turned out to be form the ballast plug. I frequently drain the ballast under power. I stop the boat, go forward to remove the stopper, and pop the transom valve. In any king of chop or waves, I think the water is spurting out of the vent hole and running down the bilges. Good luck...it's a tedious process but you can isolate the leak. Kevin Rye, NH