To do Alt + H + A + I on Mac in PowerPoint, download and install Accelerator Keys, then press Option, followed by H, A, then I.
Command: Demote (Increase Indent)
This is how to do Alt + H + A + I on Mac in PowerPoint with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with PowerPoint.
Alt + H + A + I demotes the selected text or increases its indent level, moving it to a lower outline level. In bulleted lists, this creates sub-items nested under the previous item.