That isn't a for sure 24 hour cancellation. I got screwed in the US on a different flight thinking that meant I could cancel. Some companies have a policy that the fight needs to be 7 days out from the current date you are trying to cancel...American Airlines screwed me over on this one.
Sorry I screwed up and didn't post it properly so here it goes again. I would double check, The last time I talked to immigration they said Balikbayan is still considered tourist and the onward ticket is required. Most Asian countries are very strict and won't let you board the plane without it. If they do they can be charged 10,000 bucks.
Many options to have an expired no longer valid onward or return ticket. You can even adapt a ticket which has been issued before with new flight details. As long as the air carrier does not do a check up in the booking system of course. In the event they will, your problem is still there and buying a ticket in the airport can be rather expensive. Correct me when I am wrong.
Did that once, 5 years ago, and the immigration officer actually plugged my "reservation" number into the computer and it did not show up. I thought I was in deep shite but he just said "Those Cebu Pacific people are bad for not entering the info into our computers, OK you can go".. I did not try it again.
Good price. Not knowing what date, airline and booking agency you used I went online and could not find it. I settled for Cebu Pacific to Hong Kong, booking through their online site, for 2,099. I did not want to be bothered pissing around to save a few bucks but it would have sure preferred your deal.