This is a slang word.
Though it sounds like a transliteration into Tagalog of the English phrase “Ah, sweet” the term aswit has a different meaning.
Magkaiba ang, ang sweet sa aswit!
— J (@moralesjayjay) March 7, 2013
LEGIT, TRUE TO LIFE 'TO NUNG HIGH SCHOOL.
lagi 'yang ginagawa ng mga lalake kong classmate sakin, "aswit" ang tawag nila dyan. tapos hinalik-halikan ako sa leeg, may hahawak sa kamay at paa ko tas lalapain ako. chupain ko din daw sila eh dahil conservative na bakla ako noon, NO. https://t.co/M6jvDaxI4w
— 𝗸𝗲𝗻𝗻𝗲𝘁𝗵 𝗯𝗼𝘆 (@thatclingybae) September 26, 2020