The I20 is a lot faster than the H20 upwind. Believe me I know I sailed the H20 a lot.
If you change the boards and add a chute you will have a boat that is still slightly slower than an I20. If you buy a carbon mast and a larger main sail you might be getting close to the speed. So for about $7000 dollars you might have a boat that could compete head to head with an I20. Seems to me you would be a lot better off selling the H20 and getting into a class that is popular in your area. H16, H17, F18, or I20.
Keep One Hull Flying,
Mike Hill