The multi-user Holographic Multiple-Input and Multiple-Output Surface (MU-HMIMOS) paradigm, which is capable of realizing large continuous apertures with minimal power consumption, has been recently considered as an energyefficient solution for future wireless networks, offering increased flexibility in impacting electromagnetic (EM) wave propagation according to the desired communication, localization, and sensing objectives. The tractable channel modeling in MU-HMIMOS wireless systems is one of the most critical research challenges, mainly due to the coupling effect induced by the excessively large number of closely spaced patch antennas. In this paper, we focus on this challenge for the downlink of multi-user MIMO communications and extend an EM-compliant channel model to multiuser case, which is expressed in the wavenumber domain using the Fourier plane wave approximation. Based on the presented channel model, we investigate the spectral efficiency of maximumratio transmission and Zero-Forcing (ZF) precoding schemes. We also introduce a novel hardware efficient ZF precoder, leveraging Neumann series (NS) expansion to replace the required matrix inversion operation, which is very hard to be computed in the conventional way due to the extremely large number of patch antennas in the envisioned MU-HMIMOS communication systems. In comparison with the conventional independent and identical Rayleigh fading channels that ignore antenna coupling effects, the proposed EM-compliant channel model captures the mutual couplings induced by the very small antenna spacing. Our extensive performance evaluation results demonstrate that our theoretical performance expressions approximate sufficiently well ...