If you don't already have a digital volt meter, buy one now. Start at the back of the console electrical panel, and trace out the wiring for the navigation lights (this will be a good time to mark the wires for future reference). There is going to be a fuse, and or a breaker. Don't forget to look at the ground or negative wire for corrosion. Clean each connection as you come to it, and put some corrosion block on each connector as you inspect it and take it apart.
Usually there is corrosion around the contact for the bulbs. Clean the contacts that on a plastic plate with springs behind the plate. Also clean the bulb contacts. There should be no resistance (or complete continuity) when you check the bulb with the volt meter. My guess is that you are going to find the bulb contacts are corroded. Spray these, and the springs with corrosion block. In different eras, there were different fixtures for the navigation lights, and of course different bulbs, and types of contacts. IF this does not resolve the problem, and you don't have 12 volts at the lights, look at all of the crimped connections--you might have some corrosion in one of the butt connectors (or even may have a broken wire). As the boat is about 25 years old, there may be some wires which may need to be replaced. This may be a good excuse to go over the entire electrical circuit, check connectors, fuses, make a diagram and label the wires. Maybe replace them. Also be sure and check the all around or separate stern and bow white lights, if that is what your boat has.