The presentation of offerings to the kami. Ordinarily it means the offering of symbolic heihaku by worshippers but hobei may comprise other items such as jewels, silk, special paper, weapons, money and utensils. Hobei can be a means of affirming the rank of a shrine, depending on who is making the offerings (e.g. the emperor).
See Kampeisha, Kokuheisha.
A Popular Dictionary of Shinto. Brian Bocking.