I would dig out the core for about 1/4" around the big 5" hole and then fill the space the core was in with thickened epoxy. Then drill the holes for the screws about 1/4" bigger than they need to be...and fill the hole with thickened epoxy, and then after it has set... drill holes for the actual fasteners to pass through.
BTW, you should probably have some sort of waterproof cover bolted or screwed to the back of the speaker... a 5" diameter hole can let a lot of water through if the sucker get taken out by a wave...
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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Still—DON'T READ THAT POST AGAIN.