The system I used involved tying loops of 1" tubular webbing to go around the kayak, attaching them to a pulley system (similar to Kent's setup). I left the loops loose and just slipped them over the end(s) of the kayak. This let me rotate the kayak onto it's side (which is the way I stored it). My system used 3/8" diameter rope to make it easier to grab/pull.

For safety, I used an eyebolt in the wall, a steel ring, and a hook. I ran the rope through a pulley at the top of the wall, then down through the eyebolt and then attached an approx. 2" in diameter steel ring on the end. Place the eyebolt so that if you dropped the kayak, the ring stops it 6" or so from the cement floor. The hook was attached near the base board and was used to hold the kayak up next to the ceiling (no knot tying or cleat problems).

The system worked great, I eventually added a handle to the ring to make it easier for my former wife to haul it up and down. I just used a piece of wood for the handle, when I build another one I'll use a stirrup-like handle so I can use my foot to hook / unhook it. I had a rubber mat on the floor that I put the kayak on, then slipped the webbing loops over it one end at a time. This made it easy for one person to load and unload it.

Hope this helps,

Peter