Learn English – Difference between “fat chance” and “slim chance”

Wait is an intransitive verb—it doesn't take a direct object; consequently it can't be cast into passive voice, and its past participle can't act as an adjective:

 We are waiting eagerly. but
^✲ We are waiting him.
^✲ The event is waited.
^✲ His eagerly waited arrival has been delayed.

Await is a transitive verb—it does take a direct object.

We await him eagerly.
The event is awaited.
His eagerly awaited arrival has been delayed.

Wait for may be treated as a transitive phrasal verb.

We are waiting for him.

But it is not ordinarily used in the passive voice. These are grammatically acceptable but sound a little odd.

^? The event is waited for.
^? His eagerly waited-for arrival has been delayed.

^✲ marks a usage as unacceptable ^? marks a usage as questionably acceptable

Personally, I wouldn't do either; I light a candle.

Kindle is a slow process, like when you're starting a fire in a fireplace. Kindling is little bits of wood or other material that you feed to the fire to get it going. Personally, it sounds weird to me if you're not talking about something like a wood fire.

Ignite is quick. If lightning hits something and sets it on fire, it was ignited, not kindled. You can ignite gas, but not kindle it.

Both of these words have metaphorical uses which similarly are different in the implied speed of the action. Someone's work might kindle interest in a subject while a controversial comment by a politician ignites debate.