Can micro lipo help me get a smaller waist and define my hips more for a more hourglass figure? Or do I have to get Vaser lipo?

When selecting a procedure it is important to select a body contouring specialist and a surgeon who does these procedures on a regular basis. 
I don't agree that any tool can produce the similar results. You need good tool to produce good results. 
VASER is superior to many other devices when it comes to high definition body procedures. It's safe effective and faster to recover. 

HI There
Thank you for your question.
Microlipo as it is advertised is merely liposuction through a small cannula.
In simplistic terms very high suction pressure is used to remove the fat and to be fair the results I have seen done elsewhere have been quite irregular when used on larger areas.
Everyone will use a Microlipo technique at LOW pressure when removing a few millilitres of fat to use as a filler or when treating the chin.
For a belly both Vaser and Bodytite either melt the fat or emulsify it so it can be sucked out at LOW pressure.
The result is usually a lot less dents than by suction alone, less bruising and quicker recovery etc. There are lots of other factors involved such as how superficial one treats, ratio of anaesthetic to what you suck out, but all things being equal Bodytite and Vaser seem the way to go in my humble opinion.
To put it in context, for removal of a fist sized amount so called Microlipo is great. If you are out to remove a decent quantity of fat and TIGHTEN the skin especially if it is a bit loose then Bodytite. If you want to define abs and etch them then I will get better results with Vaser as it can work closer to the skin.
I hope that makes the whole thing a bit less confusing. 
See an expert......
Kind Regards 
Dr Dinesh Maini 
Zenith Cosmetic Clinics