Fullhop immediate Full Waft, or at the peak of his jump?
Full hop-->Buffer air dodge during jumpsquat-->Buffer Max Waft during the air-dodge cool down. You'll still be really high in the air, but max waft still reaches low enough to hit any opponent.
Wario is in the air for a total of 53 frames. Airdodge is 32 frames in length with 5 frames of ending vulnerability (inv. from 3-27, iasa 33). Waft hitbox comes out on frame 9 with armor starting on frame 5 (4 frames of startup). So basically, full hop and airdodge, the opponent then has 9 frames to punish you before you reach your 37th frame of being in the air. Not saying it's the best approach to landing the waft, but if you're stuck with max waft and need to use waft, this is just a really weird way to use it that will surely leave your opponent salty. Wario might also be able to short hop-->air-dodge-->max waft from platforms and still be able to abuse the max waft's disjoint, but I'm not sure.
Edit: Fair ends only 5 frames later than air-dodge, so combining this with the fact that max waft can hit any character in the game, no matter how short, one might be able to full-hop fair someone's shield and then buffer a max waft for a potential shield break. If you full hop fair and remain over their shield, they might try to punish you, but that's where superarmor could help. Just an idea, haven't tried it out.