I bought a retractable clothes line and fastened it to the ceiling above my work bench, and whenever sanding or using a sander or router I attach the end of the clothes line to about the center of the slack in the power cord and vacuum hose to hold it up off the work bench. I use one of the long Velcro cable straps to attach it. If both a vacuum hose and power cord are in use I also use a couple more Velcro straps to keep them together before and after where the clothes line is attached. I have a large hook on the ceiling that the upper end of the vacuum hose and power cord are run through so this keeps the top end secured and out of the way.
Here is the retractable clothes line
https://www.amazon.com/Honey-Can-Do...BEPZM/ref=sr_1_4?ie=UTF8&qid=1491141076&sr=8-4&keywords=retractable+clothesline
These clothes lines are available from many sources. The link is just to show what it looks like but Amazon does have a good price for it. It can be shortened if more tension is needed or it can be dis-assembled and turns added or removed to vary the winding tension. I left the end piece in place and just added the long Velcro tie to it. In my case, I took mine apart and removed two turns to get the tension right for my need. It should be strong enough to hold the slack power cord and vacuum hose up above the work bench, but not strong enough to pull up on the tool as it's being used.
Here is a link for the Velcro straps that I use.
VELCRO® Brand ONE-WRAP®, VELCRO® Brand Straps
Again, the link is to show the picture. These are available from many sources.
This is the ceiling hook
Everbilt Black Vinyl-Coated Heavy Duty Steel Wall Mounted Bike Hanger-01221 - The Home Depot
This is the hook that I have on the ceiling. Again, the link is for the picture. They are available from many sources.
I have several of these hooks located across my ceiling to hold up my air hoses my vacuum hoses, and my power cords wherever I frequently need to rout them. Making a large loop in the hose or power cord and then holding it up at arms length will usually get it high enough to place it on a hook or remove it from the hook without needing a ladder, but my shop ceiling is 8' so this method may or may not work for you. A long pole with a large hook on the top end might help do this if you have higher ceilings.
With a "Sander Sitter" and my clothes line idea, you will have the ultimate way to sand your work. I hate sanding, so I need every option available to make doing it as easy as possible.
Charley