CFW and HFW are totally separate, you do not need HFW to install CFW anymore.
The issue currently is that BG Toolset which is used to patch OFW to allow CFW to install, has not been updated for 4.88 yet. So currently if you are on 4.88 OFW (or 4.88 HFW) there is no way to install CFW. You will just have to wait a few days longer. For now you could install HEN while you wait.
However if you are currently on 4.87 OFW or below, then you can install CFW by using BG Toolset @ http://** ** www.ps3xploit.net > D... by team** (NEW URL = http://ps3toolset.com
Note: For the purposes of installing CFW it makes no difference if you are on OFW or HFW. HFW is only needed for installing HEN.