In digital communication, "Hy" is a casual, often typo-based abbreviation for "Hey" or "Hi," used as a friendly greeting. It can also rarely stand for "Hell yeah" in very informal contexts, though "Hey" is its most common intended meaning.
Hy is primarily a casual misspelling of "Hey" or "Hi," used as a informal greeting in text messages. It can rarely stand for "Hell yeah," but context usually confirms it's a friendly hello.