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A.  Your airline won't be 'allowed' to fly over the Carrib. if it is deemed to be unsafe.  The passengers don't need to watch the weather...  professionals are doing it for you.

B.  I live in the north central part of CR... we get alerts often... but usually a day or two after the actual events... LOL!!   Look.. The Costa Ricans live their lives, pretty much AS NORMAL!!! even when it rains... and it can rain a lot. June and July have been extra wet... just over 7 feet where I live... but life is pretty much normal... with a few hickups here and there.  Some dirt slides down onto a roadway, it gets cleaned off.  We call that 'Thursday' here. 

C.  Most of the 'situations' that are considered noteworthy or even a bit 'dangerous' happen on or near rivers, or along roadways where HUMANS have cut into the hills or mountains to make the roadways... and thus, have left a 'set-up' for something to happen.  The tourist transport companies are fully aware of where things 'can' happen, and they know the detours.  Even me, a Gringo, knows the detours.

D.  Your 'hiking adventure' companies will NOT take you into dangerous places.  Most 'hikes' are in forests and I rarely hear about forest disasters down here.  Occasionally a tree will fall.. same as anywhere.  Just be prepared to have an intimate experience with some mud and water... and of course... the amazing adventure that awaits you. 

Just an extra note...  my experience, this 'wet season' is that the heavy rains have 'wakened' the forests... at least near me.  Never ever in my 5-1/2 years here have I seen so much wildlife so close to my village.  I'm guessing that the animals are coming down from the mountains behind us (Monte Verde Reserve and Rainforest of Eternal Youth) and venturing into the foothills and the forest 'edges' where there is a little more 'light' and thus... ample things to eat.  We never see Capuchins... but in the last 4 weeks I've seen them 7x... along with pezotes and numerous others.  And don't even get me started on the birds...  They are simply out of control right now...  I've seen at least 4 in the last week that i hadn't seen before... and right in my garden; it's like an Aviary.   Big and small, sweet and noisy, funny and not so funny...  they're all here.  My morning coffee is like watching Animal Planet on 'bird' week.

You'll be fine. 

Concentrate on having fun and let the 'worry' crap be somebody else's job.

Pura Vida

@kathleentitus

Kathy, I'm sure the airlines will have alternate routes planned if the weather over the Caribbean is too bad. Since the charge for your hiking trip is now nonrefundable, I would suggest that you fly here as planned and find something else to do. It's not as if there's nothing else to see and do here, and many attractions are free or low-cost.