It should work, as you dont really need much pressure or CFM to run an hvlp. just take your time and when the compressor comes on stop and take a few swigs of your beer.
we have done 7 boats now in the Parkers with a cheapie $20 Harbor Freight gun. We thin at 10% with mineral spirits and put the first 2 coats on pretty thin. We follow that up with 2 heavy coats thinned 5% and it has held up great for us duck hunting.
may try to spray the next one with the 10% for 2 coats then see if the gun will spray it unthinned, im thinking it will spray fine.
i just got the outside of mine painted last week and have pics posted on my mod thread:
https://www.tinboats.net/forum/viewtopic.php?f=21&t=14168&start=10
Due to a missed rotten transom the inside paint will have to wait till next weekend or so.