a greeting or salutation. Used exactly like the word "Aloha."
Can be used at the end of ANY conversation whether it be on the phone, in person, or through e-mail.
Sometimes used in conjunction with an exiting flick of the hand.
John: "Dude, that was a killer burrito! Thanks for taking me to lunch. See ya later!"
Brendan: "No problem, man. Vagina."