That is such a strange word that I wondered about its etymology. You can read an entire long article (http://tinyurl.com/y9ojffo5) if you want to, but here is the short version: "In the 19th century the Hebrew etymology of Du. lawaai 'noise' was generally accepted, until an attempt was made to elucidate it on the basis of French. As lawaai originated as a Jewish word in Amsterdam, there can be no doubt about its Hebrew source. The synonym laweit on the other hand, a familiar word in southern Dutch speech, requires a French origin."
Etymologica: Twee woorden met een 'onbekende' etymologie, Lawaai en laweit. Available from: https://www.researchgate.net/publication/291688491_Etymologica_Twee_woorden_met_een_%27onbekende%27_etymologie_Lawaai_en_laweit [accessed Oct 25 2017].
Geluid can be ay kind of sound/noise. Lawaai is a loud noise, and usually the person who uses lawaai is angry or annoyed by the sound.