In 1985, Hillwood commenced in the Northern Division of the Tasmanian Amateur Football League, reaching a grand final three seasons later, and winning a premiership in 1990 with a 12.14 (86) to 10.10 (70) defeat of Longford. When the competition split into two divisions in 1992 the Sharks won the inaugural division one flag, downing George Town in the grand final by 13 points.
The northern amateur competition was replaced by the Northern Tasmanian Football Association in 1997. The Sharks won the division one premiership in the new competition in 1999 when they thrashed Longford by 97 points, 26.14 (170) to 10.13 (73). They then went back to back thanks to an 8.12 (60) to 2.8 (20) defeat of Scottsdale the next year.
Hillwood continues to compete in division one of the NTFA.