Hence why it's called Waimea ;)

Right, so I am aware that 'Waimea' refers to several areas (counties and towns) in Hawaii, one of which is a surfing area; thus, naming the cliff in reference to a surf town with big waves makes sense. Nonetheless, does the term 'Waimea' actually translate to 'wave' or some other similar reference?

I am not 100% sure but I believe this crag was named after/for Waimea Bay; www.hawaiiweb.com/oahu/beaches/waimea_bay_beach_park.htm