Though it is nowhere translated, Halbarad most likely means "Tall Tower", from Sindarin hall, "tall", and barad, "tower".
Sindarin
halbarad
masculine name. Halbarad
Elements
Word Gloss hall “exalted, high” barad “tower, great towering building, tower, great towering building, [N.] fort, fortress”
Halbarad
Halbarad
A Dúnadan ranger (LotR/744). The meaning of this name is unclear, but it might be a combination of [N.] hall “high” and barad “tower” (as suggested by David Salo, GS/352).
Conceptual Development: This character was already N. Halbarad when he first appeared in Lord of the Rings drafts from the 1940s (WR/297).