A wealthy (older) guy who has not come out of the closet yet, but is an active homosexual. The word is a contraction of the Dutch word 'chanteren' (to blackmail) and the Moroccan 'habibi' (friend, lover). The chantahabibi has a decent job, and maybe a wife and some kids, and seeks his relief primarily among young Moroccan boys to avoid his straight and gay world accidentally colliding.
Puff #1: "How was your weekend?"
Puff #2: "I'm working this filthy rich chantahabibi. A couple more weeks, and he and his wallet are all mine."