Heat your waffle maker according to the manufacturer’s instructions. Lightly grease it if needed.
In a medium bowl, whisk together the Krusteaz pancake mix and cold water until well combined. Add the soybean oil, eggs, and optional sugar and vanilla extract. For a touch of extra flavor, consider adding lemon zest. Stir until the batter is smooth, ensuring there are no lumps.
Pour the batter into the preheated waffle maker, using just enough to cover the surface without overflowing. Close the lid and cook according to your waffle maker’s cooking times, usually about 3-5 minutes, or until the waffles are golden brown and crispy.
Carefully remove the cooked waffles and serve immediately. Top with your favorite fruit or drizzle of maple syrup.