Update continuous aggregate to hierarchal aggregate

Currently, I have a set of continuous aggregates, which are as below:

5 mins
1 hour
1 day
1 week

I want to migrate them to hierarchical aggregates, such that data in the underlying hypertable is not lost. At present, I see an option to do as below:

  1. Create a hierarchical aggregate with a new name.
  2. Copy data from old hypertable to the new hypertable.
  3. Drop old aggregate.

However, I do see this as a cumbersome process. Is there a better way to handle this?