With his raise coming towards me and no other callers I would just call his raise.
What is your purpose of re-raising? to force him out? To get more money in the pot with maybe the best hand?
I would have called and watched the flop. AK suited is a monster hand pre-flop, but weaker than pocket 2's if it doesnt hit.
In your most excellent chip positions with the bully raising over 3 BB, I would let him play into your hand. See if the straight draw comes, or flush draw, or top pair.
With the main point of the tourney to make it to the final group, I would have played tight aggressive, and been very careful.
I've folded QQ pre-flop before when I was raised all in by someone.... would I have won? Was it a race? Who knows, sometimes lasting longer in a tournament is better than taking an unknown odds
in doubling up.