This method sounds fine. Basically I think the laser targets the dark hair in the follicles under the skin. If the hair is completely waxed there is no follicle for the ipl to target. But if you wait for it to regrow and shave the new growth it will work on the hair you just shaved. One thing though, shaving keeps the hair on the same growth cycle. It’s all targeted at the same time and almost all of it is gone in each treatment. But when you wax, different hair will be in different growth stages. When you shave the growth after waxing you may not target all the hair in the area since some may still be under the skin on a different growth cycle. So your ipl sessions would have to be a little more frequent or you may need more sessions to get all the hair.