A hyperbola satisfying y= k/x (and since you are given that it passes through (8,8) and (-8,-8), clearly k must be 64) has y= x as an axis. I was going to say it's vertices are at the intersection of y= x with y= k/x but obviously those are the (8,8) and (-8,-8) points you are given.
Remember I suggested drawing a rectangle with sides passing through the vertices and the asymptotes as diagonals? In this case, two sides of that rectangle would have to pass through (8,8) and (-8,-8) and be perpendicular to y= x which means parallel to y= -x: they have to have slope -1. The line with slope -1 passing through (8,8) is y= -(x-8)+8= -x+16 and the line with slope -1 passing through (-8,-8) is y= -(x+8)- 8= -x-16. y= -x+16 crosses the asymptote y= 0 (x-axis) when x= 16 and the asymptote x=0 (y-axis) when y= 16. Of course, the other line crosses the axes at x= -16 and y= 16.
The "rectangle" I consider so important has vertices at (16,0), (0,16), (-16,0), and (0,-16). The length of those sides is, of course, sqrt(16^2+ 16^2)= 16 sqrt(2). The "a" and "b" you want are half that: 8 sqrt(2). Notice that the "rectangle" is actually a square. You could just have calculated that the distance from (0,0), then center of the hyperbola, to (8,8), one of the vertices, is 8 sqrt(2). If you were to rotate the axes 45 degrees so that there were along the axes of the hyperbola, the equation would be change to x^2/- y^2/32= 1. The focal length (distance from the center to the focus) is, by the way, sqrt(a^2+ b^2)= sqrt(128)= 16 as you said.