You can do it with a hammer and punch but now, unlike in the distant past, you can get a decent sight pusher for under $50, and having the right tool for the job make the job MUCH easier.
This one from D&D machine cost me $44, it has blocks to work with a variety of pistol slide shapes and it works great on Kimbers.
sight pusher
In fact, I don't really recommend the hammer and punch approach for a Kimber as the rear sight also retains the spring for the firing pin safety, and you have to hold it in place while you move the rear sight into the dive tail. That's much easier to do with a sight pusher than with a hammer and punch.
Also, if you are installing a tritium night sight, be advised the tritium is gaseous and using a hammer and punch can crack one of the tubes, releasing the tritium in fairly short order. If you're working with night sight, a sight pusher is pretty much required.
When you consider that most shops charge between $25 and $50 to install a set of sights, $40 for your own tool is a bargain.