Would totally name my kid this, and not just because when I think of this name I think of Akagami no Shirayukihime, (Snow White with the Red Hair). I would name my kid this because it sounds like an awesome name, and a lot like Obi from the anime, he might become a good fighter!
Besides "Obi" in Japanese and all other separate meanings, specifically for the name "Obi Wan Kanobi", used by George Lucas, I believe it to be a little more simple, although much more ingenious... Every airplane has two devices used as a short-range radio navigation system, enabling the aircraft to determine their position and stay on course by receiving radio signals. These devices are named "Omni-Bearing Indicator", and you select the frequency by turning a knob. Select the "origin" frequency in the first unit, and the "destination" frequency in the second unit. When in flight, these devices make sure your aircraft is on the right course. So, you have "Omni-Bearing Indicator 1 knob" and "Omni-Bearing Indicator 2 knob". Then, just imagine the pronunciation of the first one... "OBI 1 Knob"...
In addition to meaning "heart" or "heart of the father," it's also what the central home of a man's compound is called. This can be seen in many works of African literature such as Chinua Achebe's novel Things Fall Apart.
Short form of Obinna. As a very loose/literal translation, I would take this to mean something like 'heart of the father' or 'father's heart.' (Obi=heart; nna=father).