1.
regrettable, unfortunate, a shame
Used when something valuable is wasted or lost, or when a good opportunity is missed.
時間が惜しい。
Time is precious. / I don't want to waste time.
あんな才能を無駄にするのは惜しい。
It's a shame to waste such talent.
若くして亡くなったのは惜しい。
It's regrettable that they passed away so young.
2.
close, almost
Used when someone nearly succeeds at something but falls short.
惜しい！もう少しだった。
So close! You almost had it.
答えは惜しかったけど、間違いだ。
The answer was close, but wrong.
あと一点で優勝だったのに、惜しかった。
We were just one point away from winning - so close.
COMMON COLLOCATIONS:
- 時間が惜しい: time is precious
- 命が惜しい: one's life is dear
- 金が惜しい: reluctant to spend money
USAGE NOTE:
惜しい！ as an exclamation means "So close!" and is commonly used in sports and games.