From etymonline for hot, “The association of hot with sexuality dates back to c.1500.” Also, “Sense of "exciting, remarkable, very good" is 1895 ... Hot stuff for anything good or excellent is by 1889.” The etymonline entry isn't clear about the dates of “warm” or “heated” meanings, but those apparently predate the other. OED 1 cites for the word in various senses of heated materials, or in forms like “hottest”, date from 1000 AD, 1200, 1250, 1300 etc; but the vowel frequently was a rather than o into the 1500's.
Also see the etymonline entry for red-hot, which notes “Red-hot mama is 1926, jazz slang, "earthy female singer," also "girlfriend, lover."”