Its meaning in "Mochica word" (Pre-Inca culture in northern Peru) is: "HE WHO FLY HIGH" or "HE IS HIGH" and this is supported by multiple cultural linguistic researches and give as an example the name of a place called Chep.n , where there is a stone citadel that is in the high people of the same name, in La Libertad - Peru .
In the song of the Cristo de Palacagüina, its author the Nicaraguan Carlos Mejia Godoy, gives that name the father of Christ. In another stanza also quotes the father calling Jose. So I gather that in this country, must be another nickname like Pepe, to refer to Joseph. Carlos Mejias could confirm it, AFAIK is still alive, as well as I guess any of the Nicaraguans.
CHepe family nickname given by his wife Micaela Bastidas in a letter between the two to Josè Gabriel Condor Canqui ' better known how Tupac Amaru Chief of ink in the Department of Cuzco - Capital of the Inca Empire their meaning ¨el which is atop which flies alto¨ mochica Word possibly called Chepen place where there is a Citadel of stone that is atop the village of the same name in La Libertad - Peru