Keith, what you'll find is that the gel coat as well as the resin for the fiberglass is polyesther. It is good stuff, but deteriorates quickly in sunlight. That's why the fibers are showing.
What I would do is clean it good, lightly sand and apply a good automotive epoxy primer, several coats with light
sanding between coats to get everything smooth and level. Then I would top coat it with a polyurethane enamel in the desired color. Once this is cured, I would give it a good quality automotive clear coat that is compatible with the base color.
This will out last the original gel coat and will keep its shine with little or no waxing for years.
Good luck with your project.