Actually the delegation also works both on Steem and Hive. Just that Steem delegators will be receiving HP instead of SP :)
The payouts are done manual, that's why you get power ups earliest every 3 days.
However if the power up is not done within every 3 days, it means you will get a higher HP powered up if the curation rewards dispersed later; but definitely whatever curation rewards this account receives, based on the stake holder % the delegators will receive their HP.