Since you are asking a question related to performance, you can collect more data about where the bottleneck is. You speak
Sleep mode takes its sweet time to fill objects.
How do you know hibernate what's the problem? In other words, is the Hibernate problem on its own, or may there be insufficient memory (or too much) to prevent the JVM from working efficiently?
In addition, you mentioned
We have quite a few model objects, some of which are quite large (in terms of the number of fields, etc.).
How many are "pretty big"? Dozens? Hundreds? Thousands? This is important because relational databases (like MySQL) start to work worse, as your table becomes βwiderβ (see This question: Is there a performance hit if there are too many columns in the table? ).
Performance is a lot about balancing limitations, but also about collecting a lot of data to see where the problem is, and then fix the problem. Then you will find the following bottleneck and fix it until your performance is good enough or you run out of implementation time.
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