The use of microgestures has improved the robustness and naturalness of subtle hand interactions. However, the conventional approach often neglects the context in which users perform microgestures. We present VibAware, a context-aware tap and swipe gesture recognition using bio-acoustic sensing. We use both active and passive sensing approaches to recognize finger-based microgestures while also recognizing the associated interaction contexts, including Within-Hand, Surface, and Hand Grasp. We employ accelerometers and an active acoustic transmitter to form a bio-acoustic system with multiple bandpass filter processing. Through user studies, we validate the accuracy of context-aware tap and swipe gesture recognition. We propose a context-aware microgesture recognition pipeline to enable adaptive input controls for rich and affordable hand interactions.