What exactly is Hwaorang's overhead? MP?
forward+mk is plus on both hit and on block. if it hits, you can link into full combo, if it misses you still have frame advantage to keep up the pressure. the link is kinda tight though. pretty decent overhead, but i wouldn't say its abusable.
forward+hk is -4 on block so its somewhat unsafe, but can be hard to punish if the distance is right (outside of jab range). its also slower, but i guess the only good thing about it is it leads to ground bounce for an easy combo. still usable.
the overhead you want to avoid spamming is his string overhead [mp, lp]. it leads into groundbounce for good damage, but you should use after confirming off of a cr.short. if its blocked, you can change up into mp, dynamite heel instead which is +1. however, if you see them still crouching and wanna try to catch them sleeping you can attempt the overhead, but its not safe on block. if see them always blocking high, then you can do the chris g and go into sweep instead. damage is damage and so is a hard knockdown. the way i look at this overhead is that its a primarily groundbounce that just happens to double as an overhead.
my favourite overhead is his fade away kick (back+mk). its his fastest overhead, its special cancellable making it completely safe and potential big damage, and the has the bonus of crushing crouching attacks. so its pretty good both for poking and for pressure. i have no problems using this multiple times in a match.
another, i suppose often overlooked overhead is his hk hunting hawk. its a 3 hit special move, and the last one hits mid. its probably one of your best switch cancel move. using the 3rd mid hit you can create a high/low mixup.