Do I Need to Be Concerned with This Small Hole in my Incision?

This could be an infected suture or an ingrown hair.  Most likely it is an infected suture knot.  In order for the wound to heal the suture knot needs to be removed since it is acting like a foreign body.

Small wounds such as that are more of a nuisance than a concern.  If your procedure involved implants, it would be a little more alarming if it progressed.  Simple wound care should allow it to resolve and if its from spitting sutures, don't be surprised if more of them develop.