Here's my method
Carabiner is zip tied to the bottom of the hoopnet and baitcage is clipped on to the carabiner
Hoopnet is shackled to the line/rope
Rope runs from the hoopnet to the shackle and through the buoy, light stick is placed in one of the three holes that I drilled out. I have three because I've used three different types of light sticks on these buoys over the last few years.
Two 3oz sinkers were inserted into the bottom of the buoy, this keeps the the light stick upright and out of the water while its in the water.
All line is wound up and kept bundled up using the Cable Cuffs. I used to keep the line on some homemade pvc frames but I don't hoopnet in more than 100' feet of water so these cuffs work for me.
Here's what it looks like as one