Ours takes a beating from use. But it lays on the cabintop held in chocks at each end. The sun is brutal on that cabin top. I paint the boat hook whenever I paint the cabintop(3-4 years)

It occurs to me, your hook will be mounted on the mast. Believe it or not, that's a huge difference in sun exposure due to the angle. So I think I'll change my choices, and go to #1(or 2-I've never used it but assume it's varnish).