verb (used without object), hiked, hiking.
to walk or march a great distance, especially through rural areas, for pleasure, exercise, military training, or the like.
to move up or rise, as out of place or position (often followed by up ): My shirt hikes up if I don't wear a belt.
Nautical. to hold oneself outboard on the windward side of a heeling sailboat to reduce the amount of heel.
verb (used with object), hiked, hiking.
to move, draw, or raise with a jerk (often followed by up ): to hike up one's socks.
to increase, often sharply and unexpectedly: to hike the price of milk.
a long walk or march for recreational activity, military training, or the like.
an increase or rise, often sharp and unexpected: a hike in wages.
take a hike, Slang. to go away because one's company is not desired.

1800–10; perhaps dialectal variant of hitch1

hiker, noun

1. tramp, ramble, trek, trudge, backpack.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
hike (haɪk)
1.  (intr) to walk a long way, usually for pleasure or exercise, esp in the country
2.  (usually foll by up) to pull or be pulled; hitch
3.  (tr) to increase (a price)
4.  a long walk
5.  a rise in prices, wages, etc
[C18: of uncertain origin]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1809, Eng. dial. hyke "to walk vigorously," of unknown origin. The noun is from 1865. Sense of "pull up" (as pants) first recorded 1873 in Amer.Eng., and may be a variant of hitch; extended sense of "raise" (as wages) is 1867.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Bring water-plus your hiking boots and mountain bike.
We make sure to get in lots of fishing, hiking and rock climbing.
Hiking, cycling and cooking good food at home are as satisfying as driving
  expensive cars and eating at fancy restaurants.
Perhaps we'll spend more time hiking and biking and less time buying.
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