Here is how to access 1080p mode

Step 1: Open Hyperlapse
Step 2: Tap the screen four times with four fingers (it may take a few attempts).
Step 3: Adjust resolution to 1080p.
Step 4: Enable Hyperlapse EXTREME – adds 24x and 40x speed multipliers
Step 5: Tap done.

Here is my review. On iPhone 6 plus dont open in landscape mode right away. Sometimes it gets stuck and you cant access all the features. Im sure its a bug. I open vertical then record landscape. It seemed better in my 4s. Its choppy on my 6plus. Weird I know. Overall its good. Ill keep testing and will update accordingly.

Rick OShea about Hyperlapse from Instagram, v1.1.3