Normal paint will dry hard and crack. I have no experience with Hypalon, but have done some painting of PVC. Ink, as sign painters use for banners works well. Roll it over a stencil.
Better yet, spray paint for vinyl. Sold at auto parts stores for restoring faded vinyl seats, dashboards, etc.
Don't know how it works on hypalon, but excellent on PVC. Withstands rolling, storage, etc.
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