You have a very light load, according to your schematic. Low efficiency is typical of the boost converter topology (and many other DC-DC converter topologies) at very light loads.
Here is a CircuitLab simulation of your circuit, using a 18 kHz, 50% duty cycle, 0-16 V square wave.
simulate this circuit – Schematic created using CircuitLab
This is only a simulation, so the reality may be different. Nevertheless, it will point us to how the circuit will change in its performance as the parameters of the circuit are changed.
Here is how the circuit performs as is:
Output Voltage
Inductor Current
It might be useful for discussion to show a zoomed in version of the inductor current.
Inductor Current (Zoomed)
It can be seen that the inductor current is 0 for part of the cycle. This means that the converter is operating in discontinuous conduction mode (DCM). This is what we would expect with such a light load. When the switching element (the MOSFET) conducts, the current in the inductor rises gradually. Then when the switching element is turned off, the inductor current falls rapidly. The falling current reaches zero, and then goes past zero. This is due to the reverse recovery current of the diode. Another diode, or a synchronous switching MOSFET, might reduce this effect, but we will not consider such changes in this answer.
One thing to take note of is that if we ignore the reverse recovery current, and treat it as zero, (which it clearly is not), then about half the time the inductor is conducting, and about half the time it is not. That means that the average current for a whole cycle will be about half the current of the half cycle in which it is conducting. But the average current in the half cycle in which it is conducting is about half of the peak current. Thus, we can use 1/4 of the peak current as an estimate of the average current.
Is there a way to reduce power losses? I know I can replace the diode with a MOSFET, but if possible I'd like to see if I can reduce the losses just with component selection/topology.
Here is the same circuit with the value of the inductor increased by a factor of 100, the frequency reduced by a factor of slightly more than 10, and the capacitor increased by a factor of 10.
simulate this circuit
The voltage is pretty much unchanged.
Output Voltage
The peak inductor current, however, is dramatically reduced -- from about 900 mA to about 100 mA.
Inductor Current
The peak inductor current has been dramatically reduced. But is the average current still approximately 1/4 of the peak current? Just to verify, let's again zoom in on the inductor current, to see if the waveform is significantly different.
Inductor Current (Zoomed)
We see that the waveform has retained its shape, and again, the average inductor current is approximately 1/4 of the peak inductor current. (BTW, this is a consequence of a) the steep decline in inductor current when the switching element turns off, which is a result of the light load, and b) the 50% duty cycle of our switching signal.) So, very roughly, the average current fell from about 225 mA to about 25 mA. Of course this is only a simulation, but it points towards how improvements may be made.
Normally, the duty cycle and frequency are controlled by a chip designed for that purpose, using feedback from the output voltage. In your circuit, as given, the duty cycle and frequency are fixed, so you will need to adjust your signal generating source "manually" or "externally". Alternatively you could use a more complex circuit that generates its own PWM signal and duty cycle and uses feedback from the output voltage. If you fail to properly adjust the duty cycle and/or frequency, you may accidentally cause the output voltage to rise above the 400 V you specify. Obviously, this could destroy the MOSFET as well as other components.
Conclusion: using your topology, you should be able to substantially decrease the power consumed by your boost converter by a) increasing the inductance, b) decreasing the switching frequency to restore the voltage, and c) increasing the capacitance to restore the smoothness of the output.
The changes require larger valued components, which are quite likely more expensive. For that reasons, it is definitely worth considering alternative topologies, such as fly-back, as suggested by Jonathan S. in his answer. On the other hand, if this is just a project for fun, and you have the larger inductor and capacitor on hand, as well as an appropriate signal generator, then your circuit topology can be made to work more efficiently than in your original circuit, even though from an economic standpoint, it may not be the best choice.