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Are the halyards wire/rope or all rope? By your descriptions it sounds like a problem at the masthead.... If you try hoisting at the mast is it any better? (Eliminate any issues with the series of turning blocks on deck)
If there's no improvement then you may have crossed halyards, as already mentioned, but the other thing that comes to mind is that the bushing for the masthead sheave is gone, or it has a flat spot. Could be that once there's a significant load the pulley stops turning, lubed or not.
I think you need someone aloft as you test this, and try the halyard on its own with a strong retrieveing line, and put some strain on it as you 'hoist' to see if the masthead pulley turns at all times.
1984 Fast/Nicholson 345 "FastForward"
".. there is much you could do at sea with common sense.. and very little you could do without it.."
Capt G E Ericson (from "The Cruel Sea" by Nicholas Monsarrat)