Not going to like this probably but here's what I'd do.

I'd get a 1 1/4" oak dowel,  I'd drill out hole so the dowel could be glued in.  Then I'd drill in the center of the dowel and epoxy the hook into the dowel.  

A little work now and it should last a very long time.  The 1 /14" hole can be made with an inexpensive spade bit.  Epoxying the hook in rather than just screwing it in should keep it from working loose and stripping out.

The oak will be a lot stronger than the cheap (probably) pine that's there now.