How can i browse the production website while also working on a local development enivornment?

Right now i'm using the HOSTS file to propogate the domain's URL to the local version:

127.0.0.1 website.com

and when i want to browse live i have to edit it and do

#127.0.0.1 website.com

and restart the browsers to see live

I would like it to be a simple process that doesn't...