it's a weird combination of the words "hello, please." It is used in place of the words "Man! look at that hot chick over there!" But you never say it to the girl or any girl for that matter. Only say it to your buds so you can all stare at the beauty across the hall and give your own personal opinions about her.
alt. spellings: haro preez; heropreez;
Bill: Wha...? Where?!
Bob: Over there by the water fountain
Bill: Oh, man... she IS haropreez! But... I think that girl by the door is MEGA haropreez!
Bob: Ha ha whatever, man... to each his own.