In this article, we consider the problem of relay assisted computation offloading (RACO), in which user A aims to share the results of computational tasks with another user B through wireless exchange over a relay platform equipped with mobile edge computing capabilities, referred to as a mobile edge relay server (MERS). To support the computation offloading, we propose a hybrid relaying (HR) approach employing two orthogonal frequency bands, where the amplify-and-forward scheme is used in one band to exchange computational results, while the decode-and-forward scheme is used in the other band to transfer the unprocessed tasks. The motivation behind the proposed HR scheme for RACO is to adapt the allocation of computing and communication resources both to dynamic user requirements and to diverse computational tasks. Within this framework, we seek to minimize the weighted sum of the execution delay and the energy consumption in the RACO system by jointly optimizing the computation offloading ratio, the bandwidth allocation, the processor speeds, as well as the transmit power levels of both user $A$ and the MERS, under practical constraints on the available computing and communication resources. The resultant problem is formulated as a non-differentiable and nonconvex optimization program with highly coupled constraints. By adopting a series of transformations and introducing auxiliary variables, we first convert this problem into a more tractable yet equivalent form. We then develop an efficient iterative algorithm for its solution based on the concave-convex procedure. By exploiting the special structure of this problem, we also propose a simplified algorithm based on the inexact block coordinate descent method, with reduced computational complexity. Finally, we present numerical results that illustrate the advantages of the proposed algorithms over state-of-the-art benchmark schemes.