Staircaselike hysteresis loops of the magnetization of a LiY0.998Ho0.002F4
single crystal are observed at subkelvin temperatures and low field sweep r
ates. This behavior results from quantum dynamics at avoided level crossing
s of the energy spectrum of single Ho3+ ions in the presence of hyperfine i
nteractions. Enhanced quantum relaxation in constant transverse fields allo
ws the study of the relative magnitude of tunnel splittings. At faster swee
p rates, nonequilibrated spin-phonon and spin-spin transitions, mediated by
weak dipolar interactions, lead to magnetization oscillations and addition
al steps.