I agree that the construction techniques used for hollow wood surfboards could be easily transferred to HD foam but without the need for particularly complex rail shapes.
I believe there was a windsurf board company which sold basically flat pack kits, wasn't cheap though considering how much labour they take.
A guy on fb board build group made a hollow board. Cut a EPS block, hollowed it out the nomex sheets top and bottom. Home build in his apartment. Saved the weight with a decent shape. I'm thinking of trying it with HD foam sheets similar to a wood build. Interesting project.