"What the heck does that GVWR figure actually mean anyway?"
This figure, which is listed in your owner's manual and also on a plaque on the bike (often on the steering stem), shows the Gross Vehicle Weight Rating; it is sometimes shown as Gross Average Weight Rating or GAWR. This figure indicates the maximum weight the bike was designed to carry, including the weight of the bike itself. It is arrived at by considering the bike's tires, suspension, frame, brakes, and performance characteristics.
You're almost certainly staying within your bike's GVWR if you ride solo and keep your machine relatively stock. However, if you ride two-up and have added lots of accessories and luggage, you could be approaching or exceeding the bike's design parameters.
To get an idea if this is happening, weigh yourself and your passenger in riding gear, along with your luggage and any detachable accessories. Now find the bike's wet weight either from the dealer or a magazine road test of the model. Total the amounts and compare them with the GVWR figure. If you exceed that figure, try to pare down. If you can't do so, just note that your bike is technically overloaded and may not ride or handle as easily as you had expected. Riding overloaded also accelerates the wear and tear on tires, suspension, brakes, and your engine. Be kind to your bike and it will be kind to you.