The word is still used in modern Greek to denote time. For example, you can say "καιρός να κόψω το τσιγάρο" to say that it's a good time for you to quit smoking.

And just for laughs, Greece being a country driven by tourism has many people who would attempt to communicate with tourists in English. As such, we have humorous mistranslations poking fun in those who try to speak English by translating the Greek phrase word for word, like "do you have weather for coffee?" because the Greek sentence is "έχεις καιρό για καφέ;" which can also easily be interpreted as "can you find an opening in your schedule to go for a cup of coffee with me?"