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Standard bungees from a hardware store will lose their elasticity and fall apart pretty quickly when exposed to sun and salt water. Even expensive ones will have problems if they're not intended for marine use.
Rubber bungees are too strong for some rigging applications, so it depends what you want to use them for and if you can find the right length. I saw a rubber bungee under pressure tear a stainless steel padeye out of an aluminum mast on a sailboat, so i'm sure they could do some damage to a nylon padeye/plastic kayak if you apply too much pressure.
The cheapest and best way to go is to get custom bungees from OEX. They have connectors, terminal ends and other gizmos best suited for kayaking. They'll cut it to the exact length you need.
I'm still using bungees I bought from OEX 4 or 5 years ago. Their polyethylene sheathed bungee cord looks like it would hold up even better.
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