Hi,
 
Good day!
 
Your two magic words: "asa vakarau." Let me clarify the first word first. In Binisaya-Sinugbuanon (Visayan-Cebuano) language, the word "asa" means "where." It is commonly used for asking questions, like: "Asa ka paingon?" (Where are you going?) But, if it has been translated as "hopes," then it is supposed to be coming from the word "pag-asa," which, if I am not mistaken, is a Tagalog word but is now adopted in the Binisaya-Sinugbuanon language. Pag-asa means hope, and the shortened form for it is "asa." However, the native Binisaya-Sinugbuanon word for hope is "laom" or "paglaom."
 
The second word "varakau." Perhaps it is a very recent word. But I am sorry to say that I myself still do not know this word. On the first place, there is no consonant letter "v" in the Visayan-Cebuano alphabet. It may be rewritten as "barakao," following the present rules in Binisaya-Sinugbuanon orthography. I just do not know that such a word, if there is ever such a word in Binisaya-Sinugbuanon language now, is translated into English as "rewards." 
 
To conclude, the first word "asa" is now acceptable in Binisaya-Sinugbuanon language; for it is now used in the conversations of the common people speaking this language. But the second word "varakau" (or "barakao") is, as far as I am concerned, and I may be mistaken, still unknown; I say so, since I have not heard such a word used in the conversations of the common people yet. However, this word may be found in other parts of the Visayas and Mindanao where the Binisaya-Sinugbuanon language is spoken (and thus I do not know it). 
 
jose