Havin' a time is slang from eastern Canada, which means having fun, having a good time, just in a general state of well-being.
Generally, if one is havin' a time, he or she is doing pretty well.
Seamus was just sittin' at the bar, havin' a time.
"What're ya doin' over there, b'y?"
"Havin' a time! Yas should come join!"
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(Has to be said in a Northern accent, ideally Yorkshire)
That feeling when you're surrounded by your best friends/family/lovers/everyone in between with good music, booze and dancing. You can pick and choose from those elements, but there will be a perfect cocktail of them for you that means this saying just comes out.
Friend/lover/cuz: Y'alright?
Me: I'm havin' a lovely time...