Hey Alaska, also the name of a pathetic excuse for a band is the term used when describing a situation as shit or just plainly disappointing. It can also be used to describe bad decisions or to describe certain events.
During a night out:
Guy 1: 'I would be having such a better night if Ruth wasnt out with us..'
Guy 2: 'Yeah, i know what you mean mate, she's extremely annoying and its making my night so Hey Alaska!'
After a successful toilet visit:
Guy 123: 'The massive Hey Alaska I just put in that toilet is incredible'
Guy 2: 'dude that's so Hey Alaska!'
Two friends eating a sandwich:
Guy 4: 'Im glad i picked tuna, its really nice, i think the prawns would have been too Hey Alaska for me'
Guy 7: 'Definitely.'