Make a temporary plug
out of any softwood, pine would be good. It doesn't have to be perfect, just fill the most of the existing hole. Glue it in with any wood glue.(Tite Bond, Elmers, etc.) Decide what size Teak bung (plug) you need. It should be as large as, or larger than the damaged area. These plugs may be purchased at many marine
suppliers, or a local marine
wood fabrication shop, boat repair service
, hunt around. I make my own, and have made them from 1/4", to 1". you can make your own plugs, but you need a special plug cutter
, and it works the best in a drill press.
After deciding on size, and getting the plug, get a couple. Purchase
or borrow a Brad Point drill bit of the appropriate size, nominally, to drill a new hole. Follow the other directions, using epoxy
and teak sawdust to adhere the plug in place. Leave it proud, (sticking out a little), and when the epoxy sets, use a chisel, if you are comfortable using wood working tools, and pare (carve) is almost flush. Sand it flush with 80 grit sand paper, then use finer grit, to finis it, and to feather in the surrounding finish.
It is important that you install a temporary plug first so the drill bit has something to bite into, otherwise the drill bit will walk and do more damage. After you get the knack of it, you will run around and repair all the holes where things have been removed, pulled out,etc.
You actually can use TiteBond III, as it is water
proof, but epoxy would be the best.