Re: 316 or 18.8 stainless steel bolts
316 is one of the most corrosion resistant common stainless steel. But usually, the ones you buy at Fastenal, for example, are 304 unless specified 316 which is more expensive. In your case, it really doesn't matter because the stainless sets up a galvanic potential with the aluminum and the aluminum preferentially corrodes.
SO: no matter what stainless bolts you use, coat them liberally with anti-seize and if used in salt wated remove them once every year.
This also applies to the spool inside the gearcase behind the prop. If not serviced every season, corrosion will build up and likely split the gearcase. Even if it doesn't split the case, it will be a bear to get out.