Rene, in my past I did some surfboard shaping. One of the most important parts is the room you are using. You need to have a shaping bay. A room that is walled of in a rectangle shape and squared. On the long walls you will need shelves on each side that are pretty close to the height of your shaping stand, with florescent lights under the shelves. The lighting is very important, as it helps you see the line you are shaping and makes it much easier to see if it is continuos etc.
If it is anything like surfboard shaping you will throw away many blanks before you can get a usable board. I stress usable LOL not high performance. But even a usable board is cool when you shaped it yourself, and wakeboards might be a little more forgiving, do to the fact that you are being pulled by a boat, as compared to having to paddle into a wave, where even subtle thickness "volume" changes make a huge difference, especially in small waves.
You should try to go check out a surfboard shaping place, they probably have some near Ocean Beach or for sure in Santa Cruze.
As far as glassing the board, that is not to hard to do, or compared to the shaping of one at least. But still takes practice, especially on the sanding part. Not taking to much of the glass off.
As far as getting the required materials I have no idea exactly what type of foam they use for wakeboards, and how easy it is to shape.
Good luck though!