At least two different meanings.
Short for kumpadre, meaning 'friend.'
What's up, dude?
What's up, brother?
Pare can also refer to a priest, though the word in this sense can also be spelled as pari.
nangumpisal sa pare
confessed to the priest
Tanungin mo sa pari. Siya si Padre Damaso.
Ask the priest. He is Father Damaso.