To make something hip or more up to date. To modernize at the newest level. To change or renovate something in order to make it appeal to those who are in the know.
To increase the ‘cool factor’ of anything.
Let’s just take the advertisement they use now and hiptify it with some new music and a more up to date voice over track. If we hiptify this place, people will be lining up to make an office. It used to look like a gas station bathroom, but Bob and Marge hiptified the heck out of it.