1) ADJ: ADJ n An hourly event happens once every hour.

He flipped on the radio to get the hourly news broadcast.

ADV: ADV after v
Hourly is also an adverb.

The hospital issued press releases hourly.

2) ADJ: ADJ n Your hourly earnings are the money that you earn in one hour.

They have little prospect of finding new jobs with the same hourly pay.

English dictionary. 2008.