This is the 253rd most frequent Hungarian word.
vagyunk
"Vagyunk" means "we are" in English.
The word 'vagyunk' is the conjugated form of 'to be' for 'we' in the present tense, used here to describe the relationship between the speakers.
Mi barátok vagyunk.
We are friends.
Here, 'vagyunk' is used to express a state of happiness, referring to 'we'.
Boldogok vagyunk az új otthonunkban.
We are happy in our new home.
In this case, 'vagyunk' supports a superlative expression describing 'we' as the youngest in the group.