Karapet - From Armenian word karapet "leader", "prophet". It is an old name, the short forms of which are Karo, Krpo, Karik. From all of them we can form surnames.
Avakyan - is a name of Armenian origin. It derives from the Armenian word avag, meaning "oldest", perhaps signifying that a male ancestor was a prominent individual in his community. It may also mean "son of Avak".