I have a 89 gta and my rear hatch has been working great until recently it just stopped working. I tried resetting it, and I also noticied that the light in the trunk also was out... coincidence? I don't know if there's a power issue or not, but would getting a non motorized hatch be my best bet?

get a volt meter and check the wiring. If you have a power problem there's no sense in giving up on the power motor.

Alright I checked the wiring and there's no power to the trunk. I also checked all the fuses under the dash for power as well, and they all appear to be fine. How could I spontaneously lose power to the trunk without blowing a fuse?

Process of elimination. Start where you know you have power and work your way toward the back until you don't. You may have a pinched/frayed wire somewhere, or more likely, a bad contact.

Suprisingly I went out there today and there was power back in the trunk and the hatch motor ran fine. So im guessing theres bad contact..

Isn't there a relay back there with the motor? Could be your prob.....just my .02