Seamers Hilfenhaus (3-14) and Bollinger (3-22) each claimed three wickets in the Group B clash to help dismiss the Knights for 92 in response to Hobart's total of 178-3, ensuring an 86-run win for the Hurricanes in Raipur.
Earlier, an excellent 62 from Aiden Blizzard and Shoaib Malik's quick-fire 45 not out ensured that the Knights would be set an imposing target of 179.
And it was a mark that Daniel Flynn's side never looked like reaching as a blistering early spell from Hilfenhaus effectively ended their hopes of doing so despite decent batting showings from Scott Styris (37) and Tim Southee (21).
Hobart lost opener Ben Dunk (12) early in their innings, but the arrival of Blizzard prompted a flurry of runs as he and captain Tim Paine (43) produced a second-wicket stand of 47 to turn the game in the Hurricanes favour.
Blizzard was dropped in the first full over of that partnership by Ish Sodhi (1-31), and the Knights were made to rue that missed chance further when Malik came to the crease following Paine's dismissal, the pair putting on 100 and giving the Hurricanes an impressive total to defend.
Any prospect of a Knights triumph then quickly evaporated as Anton Devcich (two) fell to Joe Mennie (2-10) in the second over before Hilfenhaus took two in two balls to dismiss Kane Williamson (three) and Flynn (zero).
BJ Watling was able to contribute just nine before becoming Hilfenhaus’ third victim and, although Styris and Southee did steady the ship somewhat, they could not reverse the tide as Bollinger wrapped up the tail to move the Hurricanes to the top of the pool.