Balance from the player card and from the wave card are resolved separately, correct? That means you move your balance marker for the Player card and check if you wipe out, and then you move it once again for the wave card and check if you wipe out again? You do not combine the player and wave card and then move the marker?
In the Resolve phase, you adjust your balance for your Player Card if catching or riding a wave. Then put the Player card (and any associated Stoke or Perfect tokens) into your score pile.
In the Wave/Balance/Score phase, adjust your balance again for the Wave Card. This is where you would add Hang Ten or Barrel tokens to your score pile, if applicable.
The timing is important because if you wipe out in the later phase, the card (and tokens) you just played in the Resolve phase could be the single (highest) card scored for the run. If you wipe out in the Resolve phase, the just-played card is not an option for you to take (you discard this card before scoring).