We consider 5-manifolds with a contact form arising from a hypo structure [9], which we call hypo-contact. We provide existence conditions for such a structure on an oriented hypersurface of a 6-manifold with a half-flat SU (3)-structure. For half-flat manifolds with a Killing vector field X preserving the SU (3)-structure we study the geometry of the orbits space. Moreover, we describe the solvable Lie algebras admitting a hypo-contact structure. This allows us to exhibit examples of Sasakian η-Einstein manifolds, as well as to prove that such structures give rise to new metrics with holonomy SU (3) and G2.