I know I've documented this in the past, but it was likely on a forum. A friend just wrote me asking for details so here we go :)
If you have the boom arm, you know it's fantastic keeping the hose off the ground, telegraphing over tools or curious dogs, and keeping the hose off your shoulder (what I used before the boom arm). Problem is when you aren't using the hose, it hangs there like an elephant's trunk.
My $3 solution is a drill holder for pegboard (note that I got mine from a local big box, but that link is for reference if the pictures aren't clear). Click the image below to see it full size to see what I mean. I attached it to the boom arm with 4 ties, 2 crisscrossing each peg hook. Ridiculously easy to install; I straddled one of the hose holders so it wouldn't slide down.
The benefit is that I can place the hose there quickly. In fact, I usually throw it there.
Note that I have a D-36 hose on the boom arm. The 'throw' trick works best with the D-27 as it is considerably more flexible (kinda miss it actually). I use a D-36 because it works so much better with routers.