Measure the pancake mix, without packing it tightly, and add it to a large bowl.
Make a well in the middle and pour the water, egg, and melted butter or oil. Use a fork to break up the egg first, and then mix with a whisk or fork until the batter is smooth.
Make the waffles:
Preheat the waffle iron. Once hot, grease, spray, or melt butter on the hot surface. Some waffle irons do not require greasing, so make sure to check yours.
Immediately, pour the waffle batter while leaving room for it to expand as it cooks. This ensures it doesn't overflow. Close the lid of the waffle iron until steaming stops and the waffles are golden brown. Some waffle irons have a beeping sound.
Remove the cooked waffles onto a plate or keep them warm while you repeat the process with the remaining waffle batter.
Serve:
Serve warm topped with your favorite waffle toppings.
Notes
The batter texture can vary depending on the waffle mix used. While the box of pancake mix is labeled as "complete" adding an egg and butter or oil is recommended when making waffles.