Unlike cars, boats don't just grab the extra horse power and go faster. The fluid influence of water changes how horse power effect things. Hulls are designed for speed ranges, not necessarily meaning you can't overpower them. Instead adding power can have anywhere between little effect at all (because the hull just doesn't have the design to do anything in the water) all the way to turning a hydrodynamic into a ballistic (the hull just gets on top of the water and starts flying).
Again, I don't know what would happen. Just bear that all in mind for safety.