How should "yahoo" REALLY be pronounced?

OK, bear with me here. We say "yah-hoo", but doesn't that make the "h" do double duty, affecting both the original vowel sound and the beginning of the second syllable as well? Should it not, barring as we all know the many and various weirdnesses of the English language, be either "yay-hoo" or "yah-oo"? In either of these cases, the "h" is only used once. What do you all think?