What does Raya mean?
As an Arabic name Raya has two attested sources: rayya (ريا) 'aroma, fragrance, perfume', and raya (راية) 'flag, banner, ensign'; the intended sense varies by family, so it is best treated as disputed. Disambiguation: Raya also means 'celebration' in Malay (Hari Raya) and appears in Hebrew ('friend') and Slavic use - unrelated origins.
What does Yara mean?
In contemporary Arabic naming Yara (يارا) is most often glossed 'small butterfly'. The etymology is not firmly settled: it is also linked to the Persian yar ('friend, companion, helper'). A separate, unrelated Yara/Iara comes from Brazilian Tupi mythology, so cross-culture care is warranted.