For me the answer depends on how much hiking and how tough the expected terrain is. I insist on "real" bike shoes which to me means bike specific shoes with cleats for clipless pedals. If the hiking is fairly short distances (a few miles at most) and the terrain not too difficult, just my SPD Sidis are fine. If I require better hiking footwear for long/difficult hikes I carry a second pair of footwear. In that case I might take any of a variety choices. Racing flats seem pretty ideal, but I have used a number of other shoe types successfully.