Literally it means someone who loves HI FI equipment.
You can use freak in many situations to illustrate a person who loves something. A surf freak is someone who loves surfing. A techno freak likewise loves techno music. Its an expression.
Hi Fi is literally equipment that produces sound. A freak is a person, animal or plant that has unusual physical abnormality or it can mean wild or irrational behaviour. King Kong was a freak of Nature!!
When we use these kind of expressions with "freak" in it we simply mean the person loves something or is very passionate about a lifestyle or a way of doing something.
Example: I am a trail running freak! This means I love trail running and everything associated therewith.
I hope this assists you.
Teacher Mark