Principal English Translation:
to achieve honor; or, to scale the heights (see Molina and Karttunen, for panhuetzi); or, for the sun to rise (see attestations)
Alonso de Molina:
pauetzi. ni. (pret. onipauetz.) lo mesmo es que panuetzi.
Alonso de Molina, Vocabulario en lengua castellana y mexicana y mexicana y castellana, 1571, part 2, Nahuatl to Spanish, f. 80v. col. 1. Thanks to Joe Campbell for providing the transcription.
Attestations from sources in English:
oalpavetzi (hualpahuetzi) = it reaches the surface (central Mexico, sixteenth century)
Fr. Bernardino de Sahagún, Florentine Codex: General History of the Things of New Spain; Book 10 -- The People, No. 14, Part 11, eds. and transl. Arthur J. O. Anderson and Charles E. Dibble (Santa Fe and Salt Lake City: School of American Research and the University of Utah, 1961), 132.
Attestations from sources in Spanish:
auh ya pauetzi tonatiuh = cuando ya habia salido el sol (Tlaxcala, 1562)
Catálogo de documentos escritos en Náhuatl, siglo XVI, vol. I (México, Gobierno del Estado de Tlaxcala, 2013), 11.