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1.
Amazing to the maximum degree. The absolute highest level of awesome.

Originated in the Boston area and is rapidly catching on.
"That guy's eyeliner and tight pants look amaxing on him."
by Stacy March 28, 2005
 
2.
Literally, a combination of the words 'amazing' and 'max', it is the best and most extreme way of describing the awesomeness of a particular object. The quintessence of cool.
Wayne Brady... opening for Saturday night live... with a mohawk... dancing in front of the entire Patriots cheerleading squad... and giving out free Ipods to everyone? THAT'S AMAXING!!!!!!
by Amaxing (Who else?) November 13, 2007
 
3.
Shoes specially designed by Nike for Homeless people to wear... they are made from invisble material.
"Those are nice amaxing shoes. Where did you get them from? Give me them now!"
by lewis n cal May 30, 2008
 
4.
Basically similar to puny superlatives such as: amazing, awesome, fantastic, only much, much better.

An adjective meaning, in general "transcending, above the rest, in a class by themselves," applied by someone who can't type too well on IM.
"Sam & Ashton are amaxing."

"That convertible is amaxing."
by Amaxing Kid Numero Uno October 13, 2005
 
5.
Even better than amazing.
Person 1: Did you see that!? That was amazing!

Person 2: I thought it was even better than that! Amaxing!
by Ashdo_Lover. June 10, 2011
 
6.
Taking it to the max and beyond.
That was amaxing, I can't believe you did it.
by p!=np August 09, 2010
 
7.
Amazing to the "max"
Extremely amazing.
Omg. That party was totally amaxing.
by littlebirdfan September 28, 2007