posted on Sep, 28 2012 @ 03:56 AM
Aloha, literally, means to share ha, which is your breath; or soul, on a deeper level.
It is used as a greeting or farewell in the sense that you have shared of yourself in time spent with someone.
Not going to comment further than that without seeing the clip, just saying what the word means. No idea what Colbert meant by it.
Eta: link is not working, and I have not seen the clip, so no way to judge the context. Care to provide a summary, OP?
edit on 28-9-2012 by
VariableConstant because: eta