Preheat waffle iron.Combine protein powder, coconut flour, baking powder, and egg.Use hand mixer or whisk to blend until the dry ingredients become wet.Add water, one tablespoon at a time until the mixture becomes the consistency of a thick pancake batter.Grease waffle iron with oil to prepare for batter.Spoon batter onto hot iron.Cook waffles until crisp per manufacturer’s instructions and serve immediately with a pat of butter or your choice of low carb syrup (not included in macros).