Greetings Sammyk,
the last yacht I built was a Phigit class, which is longer than a IOM but uses exactly the same mast, gear and sails. It too is for racing so weight had to be kept as low as possible.
The hull was planked in balsa wood strips 2mm thick cut from a sheet. The hull was formed over a set of frames, then lifted clear and three frames re-inserted to maintain shape and strength. The balsa was treated with ployester resin inside – no glass fibre used. The outer hull surface was sanded gently, then rag tissued and doped, as was the usual method for airplane construction.
The deck is one piece birch ply, 1mm, but strengthened with strips of 5mm ply where screws and other areas of strength are required. Finally all was painted. The main sheet deck eye is the top ring from a fishing rod, still attatched to part of the rod cut to length.

This is the Phigit class (from free plans)
Your choice of wood/material will depend on whether you are seeking a painted finish, or a varnished wood appearance.
Kimosubby.

Phigit alongside a IOM
Edited By Kimosubby Shipyards on 27/01/2013 10:52:44
Edited By Kimosubby Shipyards on 27/01/2013 10:53:24