When two or more jolly individuals proceed to cause an abrupt collision of two or more bee hives to signify coolness, acknowledgement, amusement, agreement, or testosterone (in the case of a male.)
Hivefiving originated in the early 19th century when avid beekeepers would perform such spur of the moment acts during times of great joy.
A hivefive is physically, spiritually, phonetically and socially the highest form of celebration.
Person1: "Yo dawg, i heard you like bees"
Person2: "Cool story brethren"
Universe: Shatters a little bit, shaken to its very core