Here's something to think on: Asgore noted that monsters need hope to survive. He never did quite say weather or not they'd die without it, but Sans does feel pretty goshdarn hopeless, doesn't he? Not to mention Asgore and Toriel's surprisingly low health pools compared to the power they are said to have.
OMG SENPAI???? WHAT ARE YOU DOING IN MY ASK BOXXXXXX *swoons*
R-regarding your question! I think everyone needs hope to survive, humans and monsters. So if you’re trying to refer to Sans’ 1 HP thing, I doubt that’s it.
Aside from that, in the game’s demo, HP was referred as Hit Points. That would be the number of points you need to deplete to take the monster down, and that’s more battle-oriented than anything else. I consider that canon, [since Hit Poodles and Horse Power are obviously in-game jokes], and not the actual HEALTH the monster might have.
If not, the common definition of HP is still Health Points, and that’s unrelated to hope.
Another reason why I think HP does not stand for HoPe: You can raise the maximum amount of HP you have by sleeping. If you rest, your physical condition and your health get better. That HP increase would make sense if HP means Health Points. But it doesn’t make sense that sleeping would increase your hope.
Speaking of Asgore and Toriel. It’s obvious that they are Boss Monsters if you look at their stats, [80 AT - 80 DF] regardless of the HP they might have.