Update (2018-11-12): Firebase seems to have added more granular permission settings with their October 28, 2018 release:
The Firebase console now offers predefined Firebase roles. These new roles enable more granular access than the primitive Owner/Editor/Viewer roles. To edit member access for your project, visit the Firebase console Users and permissions page. For more information on roles, see Manage project access with Firebase IAM.
Digging deeper, I found these IAM entries related to hosting: https://firebase.google.com/docs/projects/iam/permissions#hosting
Original answer:
I asked Firebase support and the following was their reply:
To be able to deploy hosting app your developer must be either an
Owner or Editor. So in your case, lowest privilege that you can give
is Editor because currently role-based access restriction for Static
Hosting is unavailable. We're aware that many developers, such as
yourself, would like more extensive and granular control for
permissions. We're exploring potential solutions, but I can't share
any details or timelines at this time.
Keep an eye out on our release notes for any further updates.