If you cut the 16 main right below the reefing points, it will fit on a Hobie 14 mast. You will still have to use the Hobie 16 boom because the foot will be just a hair too long to fit on a 14 boom. One drawback to doing this is that it takes all the shape out of the main, so you get an extremely flat sail. At least you can go sailing!
As far as the jib goes, it would take a lot of cutting and sewing to make it work. 14 jibs are very hard to come by used.