A new and distinct Hosta plant named ‘Waterslide’ with compact rounded-mound habit of dense bluish-colored, lanceolate foliage having wavy margins, narrowly acute apex and cordate base and are longitudinally folded upward at the midrib. The bluish coloring, coming from thick glaucous covering remains through the flowering season until the end of summer. The plant has lavender flowers densely arranged on bluish-colored stapes just above the foliage.
