The turbo raven was very close.

quote from wayne handlys site:
In 1998, Wayne began flying airshows in the Oracle Turbo Raven. The Oracle Turbo Raven, powered by a 750 HP Pratt & Whitney PT6A-25C, was the first airshow airplane to have a positive thrust-to-weight ratio. With a performance weight of 1,900 pounds and 2,800 pounds of thrust, the Turbo Raven could climb straight up, stop in the vertical line, and then accelerate straight up again


I think the reason why hovering hasnt been done really beofre is pilot orientation and obvioulsy money. if yo crash a small RC plane while hovering you can glue it back together. meby at the maximum have to spend a couple of 100 on the plane to repair it. however full scale is different that in if you crash at low level
1. youl damage you plane. not only a few 100 to repair like a model, but thousands if not millians if you need a new one
2. pilot safety
3. and most importanat is crowd safty. to get the croud all amazed about seing a plane hover on the deck youd need to be close, if your close and you mck up you could do some serious damage, injuries and possible death.

If you could overcome al the orientataion and safety problems with a high powered plane i see no reason why you couldnt hover. i would also think youd need a variable pitch prop as throttling isnt as good on full size so the pitch must change. i know the turbo raven had one and other may also