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1.
Pause, think, wait a second; See the word "hole up" by Bless Dogg (I Am Romeon)....said in a high pitch. Adlib used by Rapper/Entertainer/Singer/Songwriter Bless Dogg (I Am Romeon).
Someone that's not paying attention to what's going on and needs to be redirected, can be told to wayte (in a high pitch).
by Stone Ice Productions May 21, 2011
 
2.
Common Definitions:
Great
Awesome
Another word for "sick"
Good Looking
Tasty

Note:
- Pronounced as wait
- Often pronounced with little emphasis on the t
"Her ass is wayte"
"Man that wayte"
"She looks so wayte"
"These crisps are wayte"
by Innaiy October 20, 2013