Fairies could develop flight along similar lines to bats. They would evolve patagia (membranous skin) stretched from their arms to their sides and use these as "parachutes", slowing their fall as they jumped from trees. Eventually, they'd learn to flap and cover distance as they fell, until they ended up with the ability of powered flight.
Keeping with the bat idea, there are hovering bats - they're called nectar bats, genus Lonchophylla, and there are 8 species. They do this by continually twisting their wings backward as they bring them up, keeping a constant flow of air downward to keep them in place. Them and hummingbirds are the only vertebrates which can perform hovering.
Now, normally, a 58-gram placental mammal would only need to consume about 47 kilocalories a day, according to my calculations. However, hovering flight is so energy-expensive that - based on hummingbirds - your fairies would have to eat more like 85 kilocalories a day. The main consequence of this is that they probably wouldn't be able to fuel an intelligent brain.
To summarize; your fairies would probably look a lot like fruit bats more than anything else, and they probably wouldn't be as intelligent as humans. Maybe crow-level intelligence, tops. Hope this answers your question satisfactorily.