The estimated arrival time of the first tsunami waves is between 1:00PM to 2:30PM (Philippine Time) on 28 February 2010 (Sunday afternoon).
Coastal areas fronting the Pacific Ocean that should keep watch can be seen here.
While Tsunami Alert Level 1 means that no evacuation order is in effect, communities along the identified coasts are advised to prepare for possible evacuation. People from threatened communities are strongly advised to coordinate and follow safety instructions from the Office of Civil Defense and local disaster officials. PHIVOLCS will provide updates as soon as new information becomes available.
Info source here.