1)A Japanese grill that heats up very fast
2)The self proclaimed nickname of Gilbert Arenas, a basketball player for the Washington Wizards. He uses it because he claims that he heats up like the Japanese grill.
3)Anyone or any team that is very good a basketball and can run any other team of the court
Yo we are so hibachi, we fucking run these courts. OR Yo you was like hibachi out there, you lit them up.