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1.
A term meaning to urinate, that sounds as if it is the past tense of "whiz". Coined by the Nickelodeon series "Victorious" and "iCarly".
Man, I really gotta take a whaz.
von T.L. Hughes 12. September 2010
 
2.
When the question/response is "what" but not just "what", implying that the speaker is responding in an irritated or frustrated or confused way, and that an additional "...is the problem" or "...is your issue" or "...the hell is going on" comes right after but is unsaid.

If the person wants, they can say the unsaid, for emphasis.
Examples:

Girl: (for the 10th time) "Um can you seriously come over here and look at this?"

FriendofGirl: (busy doing something else) "Whaz?!?!! What IS it? What is the deal with you, biznitch?!!"

or

NewsReporter: "...coming down the I-95 at 87 miles an hour, then flipping over and bursting into flame near the exit to Main street!"

Person watching TV: (disbelief) "Whaaz...? I was just over there 5 minutes ago!!"

or

Mother: "Joey, will you GET over here right now?"

Joey: (playing down the street) "Maaaa, whaaaaazzz???"

or

Dude #1: (large black thing flying by at high speed) Dude, wtf?? Wtf was that?!?!

Dude #2: (looking confused/stoned/out of it) Huh, wha? Whaz goin on??
von Vallara 17. Oktober 2009
 
3.
Doesn't really mean anything. Can be used in millions of places.
You're pretty whaz.

This tastes whaz.
von Arbuck 'Whazmaster' Zadelback 22. Juni 2003