Noun. The object of being a faphat. One must indeed be able a) to fap (see related definitions) and must b) possess a hat. Setting those conditions allows the usage of this often negatively-associated word.
Ben Affleck may indeed pwn me, but he is still a faphat.
someone who faps excessively or is easily arroused
Jason: "Did you know that chocolate makes girls more easily aroused?"
Me: omfg a faphat si yuo!