The Caraballos are from Yauco, Lares, Adjuntas area. I believe they came from the Canary Islands. My grandmother was a caraballo. The Caraballos are linked to the Dastas, Orengo, Gutierrez families from that area. Look at some public trees of those families and you'll probably find yor relatives there. Their origin is in the mountains of PR named above. Various towns in Yauco, like Aguas Blancas, Duey, Barinas in yauco. You can see these towns in Google earth. Also check the PR white pages. I went there in 2009, but need more time.
Hope this helps.