It will be less than ideal. Waze does not have built-in map data, it requires a network connection to download maps and other data. This app does not the user to manually download and cache maps for a desired radius; it does cache some map data, but there's telling how much map data it will download.
This recent article offers some workarounds to get Google Maps and Waze to store offline maps.
Without a network connection, it cripples the main benefit of the device: real-time traffic and road hazards. That is Waze's forte.
There are other GPS navigation apps (such as CoPilot) that include offline maps or allow you to download them ahead of time. Those apps would be a more appropriate solution than Waze for GPS navigation without a network connection. Again, you would lose real-time traffic & road hazards but at least you have the offline map.
I normally use waze for all my travels, but when we visited Death Valley, there was no data service. I downloaded Nokia here (now called here we go) and it worked great, as long as you download the maps beforehand.