This term has come to mean a lot of things. In the case of facial hair, there is no mistaking its awesomeness. Combining a mustache with a little chin hair, the Hipster is a relatively simple look to own. So go ahead, own it.
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Make it yours.
Shave everything but the chin and mustache area cleanly.
You want to grow a small patch of hair that adequately covers the front of the chin.
Let the mustache grow a week or two until it reaches medium thickness. Allow the mustache to extend beyond the corners of the mouth.
Shave every couple days to remove stubble in the areas that are meant to be clean-shaven. Also, make sure to keep a clear line of separation between the upper lip and mustache itself.