abolish, obsolete, cessation, discarding, abandon
廃 centers on ending something by letting it go: abolishing a practice, discarding an object, or abandoning a place. The idea of obsolescence and cessation follows naturally from that same sense of deliberate removal.
廃 is the modern simplified form of 廢. The older form combines 广 (building) with 發, which likely contributed the sound and the idea of letting go or discarding. The modern inner component 発 is a simplification of 發.
The building enclosure 广 surrounds 発 (departure). Picture a building being left behind as everything inside departs: the place is abandoned and its use is abolished.
For ハイ, imagine a high pile of obsolete equipment being discarded: high -> ハイ, and the pile is abandoned under the building roof.
abolition; discontinuance; discontinuation; repeal; annulment
disposal; abandonment; scrapping; discarding; abolition
ruins (of a building, town, etc.); remains
annulment; abolition; repeal; rescission
ruin; destruction; devastation; waste; decay
cripple; disabled person; invalid
decommissioned vehicle; out of service vehicle; end of life vehicle
discontinuation (of business); closing down; giving up (one's practice); retiring
to go out of use; to become obsolete; to die out; to go out of fashion; to go out of style
out-of-print record; out-of-print CD
(moral) decay; (social) decline; decadence; corruption; degeneration; deterioration
abolition; elimination
industrial waste
closing of a school; closed school
ceasing to publish; discontinuance of publication
rejected bill (project)
deterioration (due to age); wearing out; expiration
total abolition; full phase-out; total repeal
waste; garbage
dilapidated house; deserted house