Hy short for (hell yeah)

a phrase chiefly used in northern England.

it is a contracted form of "it'll be reet", where "reet" means "alright" or "OK".

living your life according to "be reet" is the only way to find happiness in life.

hy is simply the phonetic abbreviation of the commonly used greeting "hi", and as far as i know has its origins in the GNAA, or at least that's where it seems to be used most commonly. As seen below it is frequently accompanied by the acronym "LOL".

hell yea, hellz yea, heck yes, etc. Computer slang shorthand ive run across a few times and seems to be being used more often.

the coolest, sexiest asian you will ever meet in your life

"Hy", the acronym most people scarc(e)ly use as "hello", or "hi". It can also mean "hell yeah, hell ya, hell yea". I'm sorry for my bad spelling, :(.

refers to a Ho, who is young.