See link - The linked image shows the halyard hook just below the mast head. The main halyard has a bullet nicro-pressed onto it. Raise the main and the bullet will go past the hook, then release as the bullet goes into the hook. To release, pull the haylard as the bullet comes out of the hook and let the sail down by passing the bullet by the hook on one side or the other. Both old style and new style masts work the same way.
Hobie Mast Image