The Division of Waite was created in 1993, taking the name from Peter Waite (1834-1922), a prominent businessman. Waite arrived in Adelaide in 1859, purchasing land in Urrbrae in 1874. In 1883, Waite was made Chairman of Elder's Wool and Produce Company and in 1888, he became Chairman of Directors of Elder Smith and Co., a position he held for 34 years.

In 1913, Waite donated his Urrbrae estate to the University of Adelaide and further land in 1915. In addition, 45 hectares was given to the South Australian Government to establish an agricultural high school. Posthumously, in 1923, the University of Adelaide named their Urrbrae estate the Waite Agricultural Research Insitute.

The Division of Waite was first contested in 1993 where the Liberal candidate, Stephen Baker MP, won with a 63.9% majority. The current member, Sam Duluk MP was elected in 2018 with a 15.6% majority, after a hard fought campaign against Labor, the Greens and SA-Best. .

The Division of Waite includes the suburbs of Belair, Blackwood, Brownhill Creek, Coromandel East, Coromandel Valley, Crafers West, Craigburn Farm, Eden Hills, Glenalta, Hawthorndene, Kingswood, Lynton, Mitcham, Netherby, Springfield, Torrens Park and Urrbrae. It also includes parts of the suburb of Upper Sturt. The electorate covers roughly an area of 75.4 square kilometres.