1)someone who is half japanese, half caucasion
this is NOT a derogatory term, despite popular belief
said person can be perfectly nice, hot, and cool
2) derogatory form of the word
means a caucasion who is obsessed with Japanese stuff

An Italian who is otaku. The term wap is mainly known as term for people of Italian descent. Wapanese is another term for wasian but only applies to waps or Italians.

A white guy who dates (fucks) a Japanese chick and makes all the little Japanese men jealous.

a guy/girl who is half caucasion half Japanese. He's insanely cool and usually pretty hot. Theyre usually rich, too.