Groups work great for things like this, because you can disable them completely when you're not using them. Here is how I would do it:
Every 0.03 seconds (30 times per second, because no need to check every tick)
-Is mouse overlapping Whatever
-Is Group "Tooltip" Deactivated
-> Activate Group "Tooltip"
-> Move tooltip to spot, make visible, etc (this is showing the tooltip)
every 0.03 seconds
-is mouse NOT overlapping whatever (checking to see if tooltip should be disabled)
->move tooltip far away, make invisible, etc
-> deactivate Group "Tooltip"
This way you're only checking if NOT OVERLAPPING when the tooltip is actually active, so your collision checks are halved (or fourthed if you were checking every tick and not every 2 ticks before)