Yes olive oil works great at moisturizing skin and I use olive oil on my hands every few days to keep my hands from drying out.
If you have dry hands and need to moisturize them olive oil will work great at moisturizing your skin on your hands or other dry skin.
I would first wash your hands and then apply a few drops of olive oil to the dry hands which will reduce the greasy feeling of the olive oil.
You can also use coconut oil to rub between your hands or rub around your hands or other parts of your skin to keep the skin moisturized and prevent the skin from drying out and cracking.
Coconut oil will also help reduce wrinkles on your face as well.
You can even use the olive oil on your face as well which can also help moisturize your face and prevent wrinkles as well.