yeah, to chime in with Ed and Doug, hamons don't do much structurally that makes a knife better.
A sword, well, that is another story. Hamon means something like, "badge," in Japanese. It is a visual proof of good heat treatment, and makes a sword that will bend an not break.
I LOVE hamons, and I put them on almost all monosteel knives I make, because of their beauty. I have spent many years working at improving my ability in this area (also because the Chinese, who I am often emulating, created the technology, so I need to use it).
Here is where I am chiming in with Ed and Doug - even the Chinese quit using hamons when they found how to make swords that were complete springs. Hamons prevent cracking to a large extent, but you can make a lighter and more efficient blade (in terms of geometry) with a blade tempered like a spring (for a sword). At least, the blade can be thinner and unlikely to bend and also unlikely to break, and since it can be thinner, it uses less valuable steel and cuts better. Every culture that used hamons except the Japanese stopped once they could make steel well enough to just spring temper the whole sword.
Don't let that discourage you. Just approach hamons as a work of art and embellishment. They are ephemeral beauty inside and on the surface of steel. What could be better than that? FYI, the Chinese called the same thing a shangxue. which means, "snow crystals."
They are beautiful, and it is the beauty juxtaposed with the strength and wicked sharp vicious goodness that draws me to them. sort of like a beautiful woman wielding a sword (Uma Thurman, anyone?).