Houchi (放置), generally translates as "leave as is", "leave to chance", "leave alone", and "neglect".
In the context of Kinbaku, Shibari, and Japanese sadomasochism (SM), it refers to, having completed a tie, stepping or sitting back to watch and perceive the model, the tie, and/or the predicament.
Notable Bakushi that put this into exemplary practice include WildTies (9:54), Naka Akira (9:40, 38:10, 50:16, and so on) and a number of others who learn under them.