I’m not terribly familiar with the details of the Prindle hull construction, but when Hobie hulls get wavy like that, it’s generally a sign that there is substantial delamination going on. At the very least, I would press firmly on the hull all around that area. If it’s soft, you have a problem and I would not recommend sailing the boat until the hull is repaired or replaced. Soft spots on the inside of the hull near the front crossbar can potentially lead to the bow snapping off due to bridle wire loads.