1540s, "to raise," earlier hoise (c.1500), probably originally past tense of Middle English hysse (late 15c.), which is probably from Middle Dutch hyssen (Dutch hijsen) "to hoist," related to Low German hissen and Old Norse hissa upp "raise." A nautical word found in most European languages (e.g. French hisser, Italian issare, Spanish izar), but it is uncertain which had it first. Related: Hoisted; hoisting. In phrase hoist with one's own petard, it is the past participle.
For 'tis the sport, to have the engineerMeaning "to lift and remove" was prevalent c.1550-1750. As a noun, 1650s, from the verb.
Hoist with his own petar: and it shall go hard
But I will delve one yard below their mines,
And blow them at the moon: O 'tis most sweet,
When in one line two crafts directly meet.
["Hamlet," Act III, Scene iv]
A shoplifter (1847+)
: Crooks speak of a job of hold-up as a ''hoist''