mine exits right below the rub rail. I even cut the top of my through hull ffitting's flange off straight to put it right up against the rub rail.
I used an old tank vent hole that never got closed when the vents moved into the splashwell. I just had to make it a little wider. It's got a small service loop up to the top of the gunnel, but probably doesn't need it. But, the through-hull won't take on water there. The downside is that when the pump shuts off there's plenty of water to flood my sump again, so the boat doesn't ever get pumped out all the way. I keep a bailing sponge around for the last bit. I use a check valve near the bilge pump in the summer, so the extra water just stays in the hose, In the winter I have to remove the valve or the water will freeze in there.
Those low through-hull penetrations are pretty good at clearing all the water out without a bunch of backwash. A little bit of a liability if you lose a connection though.