Update. Sorry for the novel:
The compressor didn't initially have a leak as I thought. The pressure held steady at 140psi for several days so I think it had something to do with the air inside the tank cooling and contracting, which led to less pressure.
I did create a leak in one of the fittings by torquing on the ball valve a little too hard. This is a proprietary fitting that only HF uses for their 29 gallon compressors; it's the one that comes directly off the tank. It is basically two connections in one; a 3/8" turning nut with a 1/4" ****** that pokes out the top. The 3/8" nut connects to the tank, and the 1/4" ****** goes into the pressure switch. There is a hex key on the inside of the 1/4" connection which enables you to disconnect the fitting without taking a whole bunch of other stuff off. On the inside of the nut, they use a copper washer to help seal the connection.
I called HF and asked for a replacement on the 3/8" fitting because it was still under warranty. In the parts list, they list the 1/4" ****** and 3/8" turning nut separately which I thought was weird because the piece from the factory was basically one piece (although it was two separate components). The ****** was lodged in the turning nut fairly well and wouldn't come out without buggering up the threads on the turning nut. I didn't try, but with the diameter of the bottom lip of the ****** being larger than the threads on the inside of the turning nut, it only made sense that it should come as one piece. I wonder how they got the ****** in there without damaging the threads.
Anyway, I ordered the turning nut thinking I'd get both pieces even though they were listed separately. My mistake. HF told me 10-12 weeks which sucked, but I could always use the old fitting with the leak in the meantime to get me through some projects. I could've created a different connection by buying parts from the local Home Depot or Menards, but that would've involved taking all the wires off, possibly the gauges, etc., to get the part attached. I wanted to use that route as a last resort.
Two weeks after ordering the part, it arrives which I thought was weird, but welcoming nonetheless. Two weeks beats twelve weeks lol. I opened up the package and inside was only the 1/4" connection. I know the part I ordered was for the turning nut, and was hoping the ****** would come with it based on the factory part and how they were attached. I looked at the invoice and saw it was from a place called "FINI USA Corp" out of SC. I also double checked the parts guide and realized that HF got the two parts mixed up in their list. The part # listed for the 3/8" turning nut will get you the 1/4" ******, and vice versa. This printing error someone made when drawing up the manual.
I called HF again and explained the situation and how I ordered the 3/8" nut (hoping to get both parts) and received the 1/4" ****** instead. I told them about this printing error and needed the 3/8" nut since the part # for the nut yielded the ******, the part # for the ****** must yield the nut. The guy didn't want to help me and just said to take back the compressor to my local HF. I didn't want to do that so I decided to call FINI USA corp directly.
It turns out they supply HF with a lot of backup parts for compressors. I'm not sure which models, but I know the 29 gallon is one of them. Anyway, after explaining the situation, they were able to look up my order # (that HF placed from them for my warranty issue) and see the part shipped out. I explained how the part #'s were switched in the HF manual (even though my dumb *** should've asked for both parts initially) and that I needed the nut which had the ******'s part #. The lady I spoke with was awesome. She shipped me the turning nut for free and I had it in two days.
At this point I was happy to have both parts but still concerned that the ****** wouldn't fit into the turning nut due to the diameter issue on the factory part. Well low and behold, it fits perfectly.
Although I caused the issue myself with the torquing, I don't think the leak should've popped up like it did because I didn't apply that much torque to the ball valve. I should've supported the tank to pressure switch connection though while doing so. I do think that part is a weak link in the design, but it is what it is. If there is still a leak when I reconnect the new parts, I'll just create a newer and more sturdy fitting, although it'll be more difficult to attach. Again, sorry for the novel.
TL, DR: If you need compressor parts for your HF compressor, call FINI USA corp directly and see if they can help you. Be mindful of the fragility of the tank to pressure switch fitting on the 29 gallon HF. Also know that HF was dyslexic when printing the manual and have parts # 9050375 and 9050376 switched around. 9050375 gets you the turning nut, and 9050376 gets you the 1/4" connection ******.