To do Alt + h l h b on Mac in Excel, download and install Accelerator Keys, then press Option, followed by h, l, h, b.
Command: Highlight Cells Between
This is how to do Alt + h l h b on Mac in Excel with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with Excel.
Alt + h l h b creates a rule to highlight cells with values between two specified numbers. You can choose the highlight color.