Floated label form fields – displaying hint text and validation

I'm making updates to a form, which features form fields with floated labels. I want to add hint text to some of the fields, but I'm unsure how to format these fields when I need to display validation errors.

I tried the following, but I'm worried this might be confusing to users. Any suggestions or feedback is greatly appreciated.

Note: I'm trying to avoid hiding the hint text in tooltips.