What is the easiest way to edit the hosts file on Windows as admin?

What is the quickest way to edit the hosts file on Windows as admin?

This "shortcut" method (which is almost exactly what we already used for
opening an admin command prompt) worked the very first time, but is there
an easier way to edit the hosts file?

Rightclick in any folder (e.g., the Desktop) New Shortcut
Type a location of "cmd" (or "cmd.exe") sans quotes
Click Next
Type an optional "name" (e.g., "Edit the hosts file")
Click Finish

Rightclick the new Shortcut Properties
Change the Shortcut Target from:
C:\Windows\System32\cmd.exe
Change the Shortcut Target to:
C:\Windows\System32\cmd.exe /K "notepad C:\Windows\System32\Drivers\etc\hosts"

Optionally change the "Start in" directory from:
C:\WINDOWS\system32
Optionally change the "Start in" directory to:
C:\WINDOWS\system32\Drivers\etc\

Press the Advanced button
Check [x]Run as Administrator
Press OK

That successfully creates a cascaded menu shortcut which will edit the
hosts file as administrator.

But is there an easier way?

I will outline the methods that failed, all modeled on the methods we
successfully used to open an admin prompt.
1. hotkey (failed)
2. shortcut (worked)
3. registry (failed)
4. batch file (failed)

The answer is generally useful to everyone so it would be worth our while
to solve this problem with the best solution possible.

What is the quickest way to edit the hosts file on Windows as admin?