I have had better luck on kahawai rather then Red Cod this year, especially in the second half of the season the red cod bait was barely touched.
Quick Summary (not enough numbers to prove anything)
I have caught 6 of my big sharks on KY, and only 2 on Red Cod. I fished both baits similar amounts of time. 3 Sevengillers took pilchard and a Tope took Salted Bonito but I fished these baits less often.
