hellafast is pretty damned quick. It's not as fast as stupidfast, but it'll still smoke things that are just "fast". e.g., ASDL is hellafast, compared to a 56K modem.
Man, this rig is hellafast. It beats the hell outta my dual celly rig.
Hellavator was created from a K-pop band called Stray Kids. Now, this isn't a real word but the word is used as a term in their song. So supposedly, Hellavator is a elevator that takes you to hell.
Person 1: I'm on a hellavator
Person 2: Ah, the hellavator is taking you to hell
Deriving from the ancient Greek words "hell" and "fat", hellafat has become a colloquialism expression of seniority amongst Discord servers. It is a high ranking tag of an elite crew and demands respect.