In the last couple decades, there's been a lot of innovation with hydrofoiling, which significantly minimize friction between the hull and water.

The America's Cup AC35s [1] and Flying Moth Class Dinghies [2] can achieve incredible speeds thanks to being elevated out of the water.

[1]: https://www.youtube.com/watch?v=H3uxAi3z8WU

[2]: https://www.youtube.com/watch?v=frAkDEszgZc