Yes, the election of Donald Trump has emboldened many individuals who hold racist and xenophobic views. His very presence in the public eye has legitimized the hateful thoughts and behaviors of people who would have otherwise been too embarrassed or ashamed to act. Unless Trump repudiates these actions, we should expect them to continue to increase.
Since the election of Donald Trump, people who have racist beliefs think that they are now in a comfortable majority in the country. This has made them feel as though they are supported by the general public when they attack those of different races and religions, whether verbally or physically.
These two things are correlated, by definition. I assume the question should be "Is the spike in reported hate crime caused by the election of Trump?" I think that it probably is. Trump's sexism, racism and xenophobia are well-documented, and now that he has been elected as president, people see that a person can believe and say those things and still get elected to the most powerful position in the world. They feel empowered.
We very clearly have seen a spike in hate crimes not just in New York it's all across the country muslims are attacked for being terrorist black people are attack simply because they are black but it does happen on both sides of the aisle. We have also seen people who voted for trump attacked and beaten. So yes hate crime is on the rise.
The media has been selling Trump as a all kinds of 'isms' throughout the election and it should not be surprising that reported hate crime is up following his election. However, some of that is likely due to increased sensitivity by those that want to find hate were their may not be hate.