This correspondence uses a pitch synchronous wavelet transform (PSWT) as an alternative characteristic waveform decomposition method for the waveform interpolation (WI) paradigm. The proposed method has the benefit of providing additional scalability in quantization than the existing WI decomposition to meet desired quality requirements. The PSWT is implemented as a quadrature mirror filter bank and decomposes the characteristic waveform surface into a series of reduced time resolution surfaces. Efficient quantization of these surfaces is achieved by exploiting their perceptual importance and inherent transmission rate requirements. The multiresolution representation has the additional benefit of more flexible parameter quantization, allowing a more accurate description of perceptually important scales, especially at higher coding rates. The proposed PSWT-WI coder is very well suited to high quality speech storage applications.