Lots of sailboats have a hydroplaning hull, just don't expect a rooster tail wake. Any hull designed for skimming so it can ride up and on its own bow wake is achieving a planing attitude. Displacement hulls are limited by their bow wake and LOA as the calculation for hull speed demonstrates. Planing hulls can therefore exceed the LOA speed limitation.
On the small end of the spectrum are Sunfish, Laser, and Butterfly to just scratch the surface. Moving up the ladder you find the whole gamut of the Scow Class from 12 feet to, what, 40 feet, maybe bigger; 420, 505, 49er's, and so on all the way up to round-the-world ocean racers.
Here's a 505 on a plane. Note the point of the bow is 3' ahead of the bow wake... and pulling away from a 90hp motorboat.
http://www.youtube.com/watch?v=1wy8WjKK1x4
Just for fun, here's a little perspective on speed -- some planing some not.
http://www.youtube.com/watch?v=FWINygISxDE