I don´t think the temperature inside the hugel will rise that much. In much colder climates there might be a noticeable difference but in the tropics it might not be that much. It all also depends on the materials you use for building the hugel: if you use too much "green" (nitrogen rich) materials the whole thing can decompose and
compost faster leading to higher temperatures but if you use more carbon rich materials this can be controlled. A hugel is not a compost pile, it should rather decompose slowly over time providing years of fertility.
Another aspect to consider is the orientation of the hugel relative to the sun and wind. If you set it up properly the hugel will have warmer and cooler areas, so it could in fact help you create cooler microclimates by providing shade and protect your plants from the high temperatures. Try to make it curvy instead of straight. Also mulch it heavily so it stays "insulated" from the external heat and it will probably stay cooler on the inside than the outside ambient.
You already know the main benefit: It will reduce the need for irrigation and stay moist inside for weeks.
As for materials, just use what you have at hand and can obtain locally and cheaply, that's the beauty of it.
Go for it and please share your results!