hike (something) up
to raise something, such as prices, interest rates, a skirt, pants legs, etc. The grocery store is always hiking prices up. She hiked up her skirt so she could wade across the creek.
take a hike
and take a walk 1. Fig. to go on a hike; to do hiking. It's a beautiful day. Let's take a hike in the woods, We took a hike through the forest to visit John's cabin.
2. Fig. to leave; to beat it. Okay, I've had it with you. Take a hike! Beat it! I had enough of the boss and the whole place, so I cleaned out my desk and took a walk.
3. Go to take a walk.