CAN you catch halibut in a 14' boat?? Why of course, anything is possible. Do very many people catch halibut in a 14'er?? I'm guessing no.
#1. Consider your safety on the big water in a small boat, WHATEVER you are fishing for. If you haven't been out in awhile (small boat+big water), make sure you are comfortable with your rig, timing, conditions, locations, tidal patterns, ect. You may be familiar with this already, I'm just sayin.....
#2. I chase halibut with my 16'. Have I ever got one?? No. I probably get about two-three days to try for halibut a season. The WEATHER is the main factor on whether I can fish or not. I could take a week of work off, and if it blows that week, to bad, no dice, can't do it.
#3. Don't expect to catch any. With the small crafts that we use, we generally cannot get to PRIME halibut waters in WA. Prime waters is where everyone catches halibut. People like you and I must pick through the less productive spots, and maybe, just maybe, find that little spot where a chicken or two are hanging out. But don't count on it.
Don't let the odds stop you, I still go. I just hope for the best, but keep my expectations low.
Also, just cause your boat does 40mph, doesn't mean it's safe. Try to do 40mph with 2-3' foot waves. And at 3+', you'll probably be down to 5-8mph. Speed is great on glass, and in an emergency to get you to shore, but most of the time doesn't really help. Wearing you life jacket is great in the Sound...

.....but remember, it really is only a "give you 30 extra minutes jacket" in the cold water....
Not trying to be negative, just be very aware of the risks!
I have caught many fish in my life. The most exciting? The next one.....