After being asked to bat first, the Hurricanes' innings at GMHBA Stadium lasted less than 13 overs on Thursday night as they were skittled for 74.
The Hurricanes fell well short of their previous low benchmark - 91 against the Sydney Sixers in 2015.
New Zealander Tim Seifert, who pulled off a remarkable catch behind the stumps, belted an unbeaten 37 as the Renegades chased down 75 in only nine overs.
Tim Seifert blasted an unbeaten 37 off 19 balls for the Renegades. (Joel Carrett/AAP PHOTOS)
Captain Nathan Ellis saved Hobart from worse embarrassment, smashing 35 after coming to the crease at 6-32.
Ellis then bowled superbly, taking 2-12 from his three overs, to be clearly the Hurricanes' best player.
In a further blow for the Hurricanes' hopes of breaking through for their first title, Wade was assessed for a calf injury after pulling up sore behind the stumps.
Wade, who was mic'd up on Fox Cricket, expressed his frustration via the commentary when there was a long delay in being able to get off the field.
Ben McDermott eventually replaced Wade as the Hurricanes' wicketkeeper after two overs of chaotic communication.
The former Australia player didn't return to the field for the rest of the match, sitting on the bench with a compression bandage on his calf.
"We've got a short turnaround so whether I miss the next one, and then we don't play again until the 27th (of December)," Wade told Fox Cricket post-match.
"One (match) at worst, I'm hoping, but we'll wait and see, get a scan.
"Hopefully it's just a strain, that would be best-case scenario."
After conceding boundaries from his first two balls, Renegades seamer Tom Rogers struck back to take 3-25, even getting on a hat-trick.
Fellow opening bowler Fergus O'Neill (3-16) also claimed wickets in consecutive deliveries.
Fergus O'Neill (2nd left) celebrates one of his three wickets for the Renegades. (Joel Carrett/AAP PHOTOS)
Captain Will Sutherland joined the Renegades' wicket party, finishing with career-best T20 figures of 3-14.
It was the first BBL match in Geelong since last year's match between the Renegades and the Perth Scorchers was abandoned due to an unplayable pitch.
The Renegades move to 1-1 after losing their opening game of the tournament on Monday night against the Sydney Sixers.
Hobart will attempt to put a disastrous start to the season's BBL behind them when they host the Scorchers on Saturday.
* LOWEST BBL TOTALS
15 - Sydney Thunder v Adelaide Strikers, 2022-23
57 - Melbourne Renegades v Melbourne Stars, 2014-15
60 - Melbourne Renegades v Sydney Sixers, 2020-21
61 - Melbourne Stars v Sydney Sixers, 2021-22
62 - Sydney Thunder v Sydney Sixers, 2022-23
68 - Adelaide Strikers v Melbourne Stars, 2020-21
69 - Perth Scorchers v Melbourne Stars, 2012-13
73 - Brisbane Heat v Sydney Sixers, 2017-18
74 - Sydney Sixers v Melbourne Stars, 2018-19
74 - Hobart Hurricanes v Melbourne Renegades, 2024-25
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