It does work with hardware tokens, IF you get your AWS IAM credentials using a hardware token. If you're using AWS IAM users then here are instructions:
https://docs.aws.amazon.com/IAM/latest/UserGuide/id_credenti...If you're doing a federated login with Okta or another provider, you need to set up the hardware MFA there.
There is SSH tunneling support as well, will add an update on that soon.