Hello, I think the Kraken may be my favorite part of the game, assign a designated repair person that stays below the entire time. Here are some tips:
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The Kraken scales difficulty with the size of your ship, a sloop crew will have to kill less tentacles than a brig or galleon. After watch popcorn's video on how to solo the kraken (available on this forum) I can solo him now on a sloop.
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When you get wrapped, shoot the shorter of the arms, not the wrapped arm itself.
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When the inhalation attack begins, get below deck. The quicker everyone gets their butt below deck the faster the attack seems to end.
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When the Kraken winds back to slap the ship, attack the charging tentacle to reduce damage of the slap attack.
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Don't go for the loot until it's dead. Unless it's something great... two nights ago I couldn't resist grabbing a crate of bone dust, but it left my team vulnerable. Only one person should go off the ship at a time, being extra careful if you are on a sloop. If one of your crewmates gets pulled off deck, and someone's in the water getting treasure, it's going to go bad fast.
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Keep top deck patched. Your designated repair person should be going up to the top deck (galleon only obviously) and patching mid. The rocking of the ship will spill water through mid deck. Your repair person shouldn't be just hanging around, keep the whole ship patched and keep plenty of planks and cannonballs!
Do not fear the beasty!

