Re: 25' Voyager Pontoon/150 HP Johnson with a serious cavitation problem.
Most pontoon boats are built for a 25" outboard motor. From time to time, someone will mount a 20" motor (often off a bassboat), and the engine won't run deep enough in the water. Measure from the horizontal plane of the transom down to the anticavitation plate in inches to see if it's 20" or 25".
I have a 20" motor. It's very fast cruising, but I sometimes have to ask people sitting on the front seats to move to the rear. A fix is an adjustable jack plate, or cutting down the transom plate.
Another fix would be to put a new, proper pitch propeller on the boat. You didn't mention, but when your boat's not ventilating, can you pull the red line on the motor?