I don't think Oda has worked out the CoC stuff yet. Seeing two dudes not hitting each other isn't that interesting. Which is weird, 'cause usually Luffy has the best fights in terms of art.
CoC is about overwhelming the other person it can be mentally , physically or both.
for example while Kaido was able to overwhelm Luffy physically three times already he was not able to overwhelm him mentally. as he himself stated that Luffy still stare him down even if he was unconscious.
Luffy will overwhelm Kaido mentally first than physically.
Kaido with all of his CoC power could not threaten Luffy or scare him in anyway.
Luffy seems to be immune to CoC haki power mentally due to his strong spirit and that is what makes the coming greatest pirate.
or otherwise how you think Luffy will defeat Kaido?
many ignores that fact in Luffy's fight, even against Katakuri Luffy was obviously physically weaker but still his spirit affected Katakuri greatly so that he respected Luffy and then lost at the end.
like that Luffy will affect Kaido spirit and so his haki too till the point he can overwhelm physically as well.