Step 1: What you need
-One piece of wood (appx 1*0.5*7inches)
-A few feet of black nylon webbing or similar material
-glue gun or staple gun
Step 2: Making the wood part
I took a length of wood and cut it down to 1in by 0.5in by 7in. Then I rounded the edges with a file. The size and shape of the wood is optional. You should have a look at other hilts to get ideas.
Step 3: Attaching the hilt to the umbrella
Cut the handle off with a saw or break it off with pliers. Then drill a hole on the hilt that is the same size as the new end the umbrella. If both ends come together well, this step is done.
Step 4: Wrapping the handle
Another method (which is also the right way to do it) can be found at http://pages.prodigy.net/tlbuck/tsuka/tsuka.htm