I haven't cashed out on Hive yet. If I were to sell for fiat, I think I would do the same thing you do, convert to btc, send to Coinbase and sell for fiat. I am sure there other ways too, I just haven't tried any other options.
Soon if/when Robinhood implements bitcoin wallets, we might be able to send btc there and sell for fiat commission-free.
RE: Case For A Hundred Dollar Hive