Hilo could be pronounced either "Highlow" or "Heelo" and sometimes both pronunciations were used in the same song.

J M Carpenter collected a version in 1929 from a J S Scott of London. The first verse is:

Tommy's gone to Liverpool
Highlow, Heelo
Tommy's gone to Liverpool
Tom's gone to Heelo

There are three more verses I can't properly decipher, followed by " Belay"