This is a large size species (24 inches high) that emerges very early in the spring. It has a very upright, vase-shaped growth habit and gray green foliage with thick substance. The leaf base is heart shaped and the tip is elongated and sharp. The flowers are near white with purple anthers, borne in clusters and they bloom from July into August.

The Genus Hosta by W. George Schmid (1991), says that this species is known as "dark-leaved and wavy hosta" in its native Japan. The species epithet, fluctus means wavy.

W. George Schmid in his Hosta Species Update on The Hosta Library (2006) says, "The species itself is rarely seen in gardens. This is unfortunate, because it is an attractive, large leaf mound with very wavy leaves...According the Summers (1972) no authenticated specimens were collected in Japan during the early days of collecting (1966-1972). This may be due to remoteness of the H. fluctuans habitat in northern prefectures, where collectors rarely ventured."