I am building the 1930 Dumas Chris Craft Runabout kit. I am a neophyte so take what I say with a grain of sea salt.
Because this is an RC model, I had to make the hull watertight. I stained the hull first as well as he topsides with the stain that came with the kit. Then I fibreglassed the hull and decks with 2 oz. fibreglass. After wet sanding the epoxy to smooth things out, I am now spray painting the hull with 3 coats of gloss lacquer. After wet sanding again, and determining whether there are any defects to be sanded and filled, I am going to paint the bottom paint on top of that layer of lacquer, again using lacquer paints which will adhere, supposedly without sanding between coats because lacquer will attach to itself chemically. Then I will lay down further coats of lacquer and then wet sand and steel wool to a finished state. I am not sure whether I will need polishing compound, but the boats of that vintage that I have seen (there is a Muskoka boat museum nearby) were shiny!
I still have not decided whether to use spray lacquer or varnish on the topsides. I usually use varnish on my models, but because the boat is RC, the hull at least needs to be resilient. My approach would have been different had it just been a display model. But I have launched the boat (in the bathtub) and she's watertight.