I think a more accurate phrase than "out there", is "independent of individual mind(s)"
BK, Rupert Spira and physicalists all accept there is something "independent of individual mind(s)".
I can't speak re Hoffman, but i think he's proposing reality is the contents and relations of individual minds.
Re a definition of 'physical' . . . the only definition that has any use is in terms of consciousness/experience; ie. 'that which exists or occurs outside of consciousness, outside of experience' The downside to this definition, is that by definition, the 'physical' can never be found..