Hokay is a term (meaning "ok") used by Arab rap sensation Group X in their social-political commentary on the United States and their dominance over the world in the "End of the World".
"Hokay, here is the Earth- chillin'. 'Damn, that is a sweet Earth,' you might say. Wrong."
Hokay, here eez zee Earth- cheellin'.
'Dayum, zat eez a sweet Earth,' you might say.
WROUNG.
Hokay, here's tha earf, daayum it's a sweet earf ROUND. So besides the ice CAPES melting or meteor become crash into us, we're definately going to blow ourselves up. HOKAY...
A word in which hipsters or genuinelycool guys colorfully say okay. In most cases people who aren't cool cannot pull this off. It is usually used with an Italian/Russian-esque accent. and sounds freakin fresh.