German here. If "hoist (or raise) the flag" is what you want to say, then the German translation would be "Flagge hissen!" or "Hissen Sie die Flagge". The German word "Standarte" (die Standarte) refers to a certain milirtary form of a flag, but the flag that is hoisted on a U-Boat is not a Standarte.
If you want a German phrase for getting the flag down, that would be "Flagge einholen!"
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