The Wave is probably second to the Tiger as the most active Hobie
Maybe in your part of the world, but neither is even close on a regional basis.
Number of individuals participating in 2005 HCA Sanctioned Regattas:
Hobie 16 - 726
Hobie 18 - 193
Hobie 20 - 159
Hobie 17 - 139
Hobie Tiger - 95
Hobie 14 - 45
Hobie Wave - 10
The Wave is so low because they typically don't participate in HCA sanctioned events.
Keep in mind, both of these boats in stock form are really slow by Cat standards. They can raced against Portsmouth Dinghies. The 14 and Wave are about the same speed as the dinghies until the wind get to 18-20
I take exception to this statement in regards to the 14. I've found it's a common misconception. (Just ask the guys sailing Sharks at the Canandaigua Multihull Open this year.)The H-14 is nearly as fast as a H-16 in all conditions. It will out-point a Tiger. It's faster sailing dead downwind than a lot of other non-spin boats who tack downwind. (Ask the 17's who sailed the same course in Rehoboth this year.)
The bottom line (the real bottom line) is that you can pick up a serviceable Hobie 14
with a trailer for less than a $1000 bucks.