Possibly Prop?
do not know if my "similar problem" is relevant to your outboard, but my alpa I
outdrive at high speed, was losing power and engine rpms went high. problem was that I have a through hub exhaust propeller ( i believe that was the term used) and some type of pressed ring diverter at the "wake" side of prop was missing and/or had come off due to corrosion. this is only an issue when boat is a high speed, which is seldom. otherwise the prop is still usable
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