This is the 394th most frequent Icelandic word.
helgi
"Helgi" in Icelandic means "weekend" or "holiness/sanctity," depending on context.
Here, 'Helgi' is a personal name used to introduce the subject of the sentence.
Helgi fór í fjallgöngu síðustu helgi.
Helgi went on a hike last weekend.
In this sentence, 'helgi' refers to 'weekend', the portion of time including Saturday and Sunday.
Síðasta helgi sumars er venjulega heit.
The last weekend of summer is usually warm.
Here, 'helgi' is part of 'helgidómur', meaning 'sanctuary', related to sacredness or holiness.