I'm trying to calculate the volume of the solid formed by revolving the hyperbola ${x^2} - {y^2} = 1$ bounded by $x=1$ and $x=3$ about the y axis, however I do not know if I'm going about this the right way using cylindrical shells.
Using volume of a solid of revolution with cylindrical-shell method where the radius is ${x}$ and the height is ${2\sqrt{x^2 - 1}}$, I got the integral: $$ \begin{eqnarray} V &=& 2 \pi \int_1^{3} [x (2\sqrt{x^2 - 1})] \, \textrm{d}x \\ &=& 4 \pi \left[ \frac{(x^2 - 1)^{3/2}}{3} \right]_1^{3} \\ &=& \frac{32\sqrt{8} \pi}{3} \\ \end{eqnarray} $$
I would like to know if this is the correct way to solve this problem using cylindrical shells and if there are any other ways to solve the this problem.
Your solution is correct.
Method 2: Using double integrals.
Namely, by rotating the graph around the $y$-axis, we can define $y$ as a two-variable function $y(x,z)=\sqrt{x^2+z^2-1}$, for $y\ge 0$. Next, define a region
$$D=\{(x,z)\ |\ 1\le x^2+z^2 \le 9\}$$
To get the volume of the upper body, we evaluate the integral
$$\iint\limits_D y(x,z)\ \text dx\ \text dz = \iint\limits_D \sqrt{x^2+z^2-1}\ \text dx\ \text dz$$
and to get the total volume, we just multiply this by two. The above integral can be easily found using polar coordinates, and we have:
$$V = 2\int_0^{2\pi}\int_1^3 r\sqrt{r^2-1}\ \text dr\ \text d\theta$$
Method 3: The washer method.
Consider a horizontal washer (ring) with a thickness of $\text dy$, at a height $y$ from the $x$-axis. Its inner radius is $r_1 = \sqrt{1+y^2}$ and its outer radius is $r_2 = 3$. The volume of the washer is $\text dV = (r_2^2-r_1^2)\pi$. To get the total volume, integrate the volumes of all such washers:
$$V=\int\limits_{-2\sqrt2}^{2\sqrt2} \pi(9-y^2-1)\ \text dy$$