Jason,

If you intend to glass the hull before proceeding to the deck then yes. If you will be waiting to glass then I would hold off on finish sanding. I faired my project then flipped it and built the deck, but I had all the wood and none of the glass/epoxy. It will require alot more handling this way, but I was able to continue with the materials at hand, when the time comes for glass (soon I hope) I will have to resand the hull to remove any dings, scrapes, scratches, etc. but in the mean time have a good idea of what the finished project will look like.

If the glass has to wait for a while, sand it close to it's shape but no further then keep on building.

Hope this helps,
Tom