Catalyzes the hydroxylation of the N(6)-(4-aminobutyl)-L-lysine intermediate produced by deoxyhypusine synthase/DHPS on a critical lysine of the eukaryotic translation initiation factor 5A/eIF-5A. This is the second step of the post-translational modification of that lysine into an unusual amino acid residue named hypusine. Hypusination is unique to mature eIF-5A factor and is essential for its function. [eIF5A protein]-deoxyhypusine + AH2 + O2 = [eIF5A protein]-hypusine + A + H2O Binds 2 Fe(2+) ions per subunit. Protein modification; eIF5A hypusination. Expressed throughout the intraerythrocytic cycle, with highest levels during the ring, mature trophozoite and mature schizont stages and lower levels during the young trophozoite and young schizont stages. Inhibited by the drug zileuton in vitro. Belongs to the deoxyhypusine hydroxylase family.