Hood pin install

If it was me I would "grind' the hole through the fiberglass. A drill bit might tear up the fiberglass and leave a jagged edge or fracture the gel coat. You know something like a carbide bit in a die grinder.

As far as location, I think I would install the pins first in the core support (or wherever), maybe put a dab of paint on the end of the pin and gently close or lay the hood onto the pins. Make the holes where the mark is on the underside of the hood.

Scribe the correct-sized hole with a Sharpie. Start small and get a hole through the material first. Then gradually enlarge the hole to the correct size with the small grinding bit.

Disclaimer: I've never done this but that's probably the way I would approach it..