Yes, it is OK. It's most important to wax the sides and deck to protect them from hazing, color fading and chalking from the sun. Some people think waxing the bottom makes it go faster, but experienced performance boaters know a waxed bottom makes surface tension greater and increases drag. I just finished waxing my boat with a $25 Ryobi orbital buffer and a $20 bottle of Star Brite Cleaner Wax with PTEF. It took about 90 minutes, with time left to do the truck.