It can be used for:
* Romantic partners: Similar to "honey," "sweetheart," or "darling" in English.
* Close friends: Similar to "buddy," "pal," or "mate."
* Family members: Similar to "dear," "sweet," or "love" when addressing family.
It's important to note that the context is crucial to understand the specific meaning of "Habibi." It can be used in a romantic, platonic, or familial context, so understanding the relationship between the speakers is important.