Cruising in this part of the world means you will often be rafting or docking stern to both with neighbors on both sides. This requires lots of fenders. If you have a nice big forepeak or lazarette there is a below deck option. But this is a rare luxury so some other storage area must be found.

Hnging fenders off the stern, into the cavity formed by the swim step is probably the least offensive option. This keeps the decks clear, and the fenders less susceptible to boarding seas. Or, maybe you might try cruising where it is less crowded and swinging at anchor is the norm.