The Type 26 frigate features a main mast constructed from advanced carbon fibre composite materials, manufactured by the Norwegian firm Umoe Mandal. It would probably weigh less than aluminium.
A couple of points.
I don't think the weight for the Hunter is in the mast frame. The "heavyness" is in the radar panels and associated gear that has to be in the mast. I suspect the weight differential between aluminium and carbon fibre doesn't make a huge difference in this context. Whats a few kilos when the radar weighs tonnes
The T26 is different in that it is a much lighter radar mounted higher. Carbon fibre might have a weight advantage in this application.
Carbon fibre is a great material, but it can be an absolute pain to maintain. Repairing cracks in it are not easy, and sometimes it is cheaper to scrap and build a new one.
Carbon fibre has its weaknesses. It can be brittle. There are plenty of high end yachts that have suffered sudden mast failures as an example. It delaminates over time and is suseptible to water ingress. Carbon fibre usually has an outer layer for water protection, but once that is damaged, salt degrades the resin.
Any yachtie will tell you that anything carbon fibre means expensive to buy, expensive to keep and every weekend looking after it.