Considering you want to apply a GPU, I recommend the following:

Booking #1:

SFO-HKG Roundtrip in W fare (to apply the GPU)
Arrive at HKG at 8:05 PM and then you have two options for booking #2.

Booking #2:

Hang out in the airport and take el-cheapo/crappo Cebu Pacific at 01:35 AM the "next" day. You'll likely have to clear immigration and customs and then re-checkin with Cebu Pacific.

Spend the night in Hong Kong and catch the Cathay Pacific direct flight to Cebu the next morning at 09:05 AM.