Soaked wood
Dean - O'Day and a lot of other builders would insert a piece of wood in place of the usual balsa core in areas of high loading. I agree with Harlan: when the wood is saturated eventually it will have to be replaced. Good practice is to do as Harlan suggests, and remove the core adjacent to ANY hole or fastening that penetrates to core material and replace it with a thickened mixture of epoxy. I have a similar problem under the mast step of my O27 : there is a section of wood abt. 10" square in place of the balsa core at the step on the cabin roof. The wood is sandwiched in the laminate, and the cast aluminum step was secured with 4 large screws, running thru the outer skin and into the wood. Over time, moisture accumulated in the step and seeped down into the wood, which then rotted. This problem was exacerbated by holes drilled thru the roof and into the step for the mast wireing etc. It is impossible for sealant, bedding material or caulking to stop 100% of moisture from getting into the core in a situation like this, and it is a question of when, not if, the core will start to rot. Low cost production boats all suffer to some degree from this problem as it was too expensive to address in the factory. I understand that Hinkley's and boats of that class do have solid glass wherever a fastening etc goes thru the core. That's one reason they cost so much more $$$ than O'Day's. The WEST System epoxy people have a good handbook that covers the repair process. Only costs a couple of $ and worth it.