This is the 6547th most frequent Japanese word.
チャラ
"チャラ" (chara) refers to a frivolous, flashy, or carefree attitude or style.
Here, "チャラ" is used to indicate trivialization or carefree handling of situations.
彼は何でもチャラにしてしまう性格です。
He has a personality that tends to make everything carefree and trivial.
In this case, "チャラ" means to negate or cancel out existing circumstances.
宿題を忘れた結果、先生に叱られてチャラになってしまいました。
As a result of forgetting homework, being scolded by the teacher negated the positive impression I had.
Here, "チャラい" (derived from "チャラ") implies a flashy or frivolous style.