hollow point is a cavity in the tip designed to make the projectile expand more rapidly in flesh or other soft medium.
A hollow point would not be the best point for defeating light armor, but a steel core would.
a boat tail is the rear end of the bullet tapers (like the rear end of a row-boat) which makes the air that rushes in behind it buck the bullet less, increasing accuracy.
Generally if you are worried enough about air-flow on your bullet and how it affects accuracy, you would not be using a hollow point...but that's okay, you only need a boat tail really for rifle rounds and rifle rounds pack enough punch hollow points aren't the norm, other kinds of medium expansion design features are used instead.
the Cannelure is just a grove that runs around the diameter of the bullet in a ring, the purpose of which is to line up with the edge of the brass case, so when you crimp the case around the bullet it seals extra well and the bullet is less likely to shift.
Again this has nothing to do with armor penetration, the tip, or the rear end of the bullet.