Basically, create a Windows shortcut to:
notepad c:\windows\system32\drivers\etc\hosts
And then change the Properties > Shortcut tab > Advanced > Run as Administrator:
Voila!
It's just one of those stupid things that I should have done long ago.
Source: http://www.howtogeek.com/howto/6540/stupid-geek-tricks-create-a-shortcut-to-quickly-edit-your-hosts-file/