I am a surfer...
Surfboard wax goes on TOP of the board, so your feet stick to it, not on the bottom for speed. The more bumpy and lumpy and sticky it is, the better. NOT for speed, but for "gription".
In the past, "way back" in the late 80s and early 90s, they sold a one-use cloth in a foil packet that you could wipe over the BOTTOM of your surfboard that would make it more slick and thereby faster. It was basically WD-40 or some other petroleum distillate and wore out pretty quickly from being exposed to the water. And was probably what was killing all those sharks and dolphins that used to wash up on the beach back then.
I used to wipe a rag wet with WD-40 on my board and it FELT faster...it wasnt
AND it killed sharks and dolphins, I guess
Polish the ski, and use that wax that someone recently said added a little speed, but that is about IT for the hull, unless you redesign it completely.
Other than that, just tune up the motor you have, and if you don't like it, buy something newer, more powerful, with a more aero/hydro-dynamic hull, and go faster!