Salvador registered two birdies against two bogeys for a winning total of eight-under-par 276 at the challenging Cebu Country Club.
Asian Tour regular Lascuna, who was one shot off the lead at the start of the day, struggled on the firm greens without shooting any birdies as he settled for a 76 and finished six shots from Salvador at the US$65,000 Asian Development Tour event.
Mars Pucay and Elmer Saban were a further shot back while Korean prospect Kim Gi-whan ended his campaign in fifth place on 286.
Salvador, who lost in a play-off at the HANDA FALDO Cambodian Classic on the Asian Tour earlier this year, struggled with his driver but was happy to hold on to his winning score courtesy of a solid short game.
"I feel good that I shot even par and won. My driving was horrible. I hooked a lot of tee shots but my putting guided me to victory," said Salvador, who won US$11,375.
"I've come close to winning on the Asian Tour and this victory will give me the confidence to try harder," he added.
Lascuna rued a cold putter as he returned with three bogeys and a double bogey on a tough scoring week where only he and Salvador finished under-par.