Homie-allistic is a two part word the first pertaining to being a close friend, the second part means "pertaining to" like the word ballistic pertaining to bullets. So homie-allistic means friendliness. When A Tribe Called Quest says the term he means he is bringing friendliness to hip hop.
"For we put hip-hop on a brand new twist"
"A brand new twist with the homie-allistic
So low-key that ya probably missed it
And yet it's so loud that it stands in the crowd
When the guy takes the beat, they bowed"