Is waxing to remove facial hair good for you?

Neither: It is neither good or bad. It's just a painful way to remove hair. Will sometimes lead to an infection.

If you look good: Depilation is better.

Self image: Your self image is important for health. Waxing in itself is not harmful. Excess facial hair can make you feel less self worth. If waxing becomes problematic then tell your doctor as laser hair removal or other options exist. Hirsuitism can be from a medical condition do your doctor needs to be made aware.