Chief creative officer Hunt, previously the controller of BBC One, acknowledged that the teen soap is experiencing a lull in popularity at present.
Speaking at a Channel 4 corporate event, she said: "Having run one and had similar issues with EastEnders, it is always true with soaps you have ups and downs. I would agree with you at the moment, Hollyoaks isn't on its best form."
Referring to last November's ratings-winning Silas serial killer plot, Hunt added: "At the end of last year, it was on stonking form and we had a great start to 2012. But continuing dramas have highs and lows, one slightly dud storyline can dip the viewing figures. That's how it goes and I'm pretty relaxed with that.
"I'm constantly in touch with Lime and I think Hollyoaks is a really important part of Channel 4. It is an important part of our schedule. It is just part of the ebb and flow of a continuing drama."
Hollyoaks' future has been much speculated since 2010, when Paul Marquess gave the show a major revamp.
The 44-year-old joined Channel 4 in 2010 after two years at the BBC.