It sounds like “pear” or “pair” to me. That is how I pronounce it here in the Iowa/Nebraska area. It sounds very much midwestern American.
There’s a problem there, Eyehawk. Saying it sounds like pear or pair tells me nothing about how you pronounce the word as it depends on how you pronounce pear or pair. This is why God created the phonetic alphabet. :)
Edit: Talk about the pastor who recks not his own rede, I’ve just realized I did precisely the same thing in the OP!