Isn't "ha" for he/she/it?
"(lei) ha" can also mean "you have" if the formal (3rd person sing) is used instead of "tu"
Yes, very true. On a sidenote: duolingo suggests to always capitalize the formal 'Lei'. (sorry, can't find the link right now)
Can I say "tu hai tempo?"?
How is "hai tempo" used here? What can this sentence mean? "Do you know what time it is", or "do you have the time to do.. so and so"?