Funny or Die have admitted that the video is a hoax on their site.
The "Huvr board" is most probably a hoax product.
In addition to Jwenting's answer depicting the problem with the fact that a breakthrough technological achievement wasn't published in any form, professional, scientific or popular. Several sites on the internet have found evidence suggesting that this is a hoax.
From Nerd Reactor, the lead engineer depicted in the videos is an actor named Nelson Cheng: His site, His IMDB page.
Also, according to Mashable a costume designer who worked on the shoot revealed that the shoot was produced by funny or die on her online resume by mistake. I've also uploaded a screen capture of the cached page here.
Also, this Heavy.com article explores other aspects that support the theory that it's a hoax:
The cinematography style of the videos:
As cool as these hoverboard videos are, there are many signs that the hoverboard tech is bogus. There are no long, wide shots of the hoverboard in use, which means that wires used to fake this kind of hoverboard tech could be just off screen.
Some 4th wall breaking moments at the videos and anonymity of the main character (played by the actor Nelson Cheng):
Additionally, the main "HUVr" tech guy in the blue shirt is never identified by name, which he would likely be if his product were real. Plus, some fans say they can see a harness under Tony Hawk's shirt in the video, while others say they can see Terrell Owens being held up on the board.
The anonymity of the site owners and the supposed inventors:
The webpage for the company is protected from analyzation by Protected Domain Services, though we can see that it was created on the 25th of November, 2013 - or at least protected from that date forward.
If the people who own the domain want to remain anonymous, chances are they just aren't legit.
And the possible motives of the celebrities involved.