It is adjustable, but to a very minor extent. Bottom line is the most aftermarket hoods are just hit or miss. Most seem to be on the miss side of things. If you are using an aftermarket hood though, just ditch the latch and use pins. You'll be able to get it to line up much better than with the limited adjustment that the latch has.

 

Seibon has many of the same issues, and many other fitment/quality issues, so its not something they are immune to by any means. Let's not pretend.

Did you put the rubber seal back that lines the front part of the factory hood? You can try adjusting the latch...my guess is thats not going to solve anything though

 

Just got my OEM seibon today.. And I am having the same issue?? You say just try adjusting the latch & fitment will sit flush??