Etymology
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hike (v.)

1809, hyke "to walk vigorously," an English dialectal word of unknown origin. A yike from 1736 answers to the sense. Not in widespread popular use until early 20c.

HIKE, v. to go away. It is generally used in a contemptuous sense. Ex. "Come, hike," i.e. take yourself off; begone. [Rev. Robert Forby, "The Vocabulary of East Anglia," London, 1830]

Sense of "pull up" (as pants) first recorded 1873 in American English, and may be a variant of hitch; extended sense of "raise" (as wages) is 1867. Related: Hiked; hiking.

hike (n.)

1865, from hike (v.).

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Definitions of hike
1
hike (n.)
a long walk usually for exercise or pleasure;
she enjoys a hike in her spare time
Synonyms: hiking / tramp
hike (n.)
an increase in cost;
Synonyms: rise / boost / cost increase
hike (n.)
the amount a salary is increased;
he got a wage hike
Synonyms: raise / rise / wage hike / wage increase / salary increase
2
hike (v.)
increase;
The landlord hiked up the rents
Synonyms: hike up / boost
hike (v.)
walk a long way, as for pleasure or physical exercise;
hike the Rockies
From wordnet.princeton.edu