The reason for having a carbon fibre mast is to save weight aloft. By sticking 1" thick timber on it you are cancelling out that advantage. When you glue two different materials together it is important that only one of them has the strength; the other one has to conform to the strong one. By having carbon fibre and 1" thick timber you have two competing media, each wanting to have its own way. While Sikaflex may stick to timber quite well, i would want to see some impressive test results of its adhesion to Carbon fibre before I would have a bar of your proposal. Paint it; it will be cheaper and more durable.
Peter