(n): the act of walking somewhere
(n): an increase in cost
(n): the amount by which something increases
(n): the amount a salary is increased
(n): the amount by which something increases
(v): increase
(v): raise from a lower to a higher position
(v): walk a long way, as for pleasure or physical exercise
(v): use one's feet to advance; advance by steps
Also, a long walk. :-)
When crewing on a small (or even large, I suppose) sailboat, the act of hiking is using the weight of the crew as movable ballast to offset the heeling of the craft.