Tap the hole the next size larger and put in a bigger set screw.

Bit like what Zeusman said except use a Helicoil Thread Repair Kit

There is a simple instruction on how to fix this on the futures fins site.

The Helicoil kit comes with a tap to make the thread larger (the next size up) and also included is a threaded sleeve that screws in allowing you to use your existing fin screws agin. You can use the board as normal, removing fins as normal using the original grub screws and tool. It will be as strong as it ever was.
Most engineering outlets will have Helicoil Kits

As an emergency quick fix you can also use a drinking-straw - cut a piece off, insert and screw grub-screw back in.

Thanks everyone for your help. I talked to the guys at Blue Planet Surf here in Honolulu and they took care of my problem. Rob (owner) did an excellent job and he did it in one day. Rob filled the stripped hole with epoxy, let it dry and harden completely, drilled the hole and retap the hole. If you guys are ever in Honolulu, you guys should stop by Blue Planet Surf (not affiliated, but stoked that they helped me with the repair and did it fast). Rob assured me that the repair would be strong and this is how Futures Fins recommend fixing a stripped screw hole. Now the the board is good to go, but now I gotta find time to get into the water. Aloha.