To have a great octopus you have to:
0. Remove everything is inside the head. If you remove everything, no ink will remain. Do it by yourself or ask to the fisherman to do it.
1. Beat it against the rocks, for about 15/20 minutes
2. Then freeze it
There no need to remove the skin...and, from my point of view, it's impossible to remove the skin, because it is so thin.
Points 1 AND 2 help to make it tender. I know that point 1 could not be usual for you, so if you avoid it, go for point 2 and then boil it for few minutes befor grilling/smoking.
Lot of people grill it. If you do, pay attention not to burn the small parts because they become tough.
I prefer to go indirect, it come juicier and not burned at all, with a very good smoking flavour.
It is cooked when the colour is light brown, as in the photo of my post that Will Work For Bbq wrote above.
GIANNI. OTS 22.5"+Slower+Pizza.mod, WGA+WSA+WKA.mod, Compact47+Smoker.mod+Pizza.mod