Is it possible to remove this mole on my waterline without altering the waterline? (Photos)

Shaving the mole and electrofulgurating the base under local is easy and has a very nice cosmetic result without affecting the eyelid margins. Cost is roughly $750.  It would be well worth getting it done.

I recommend getting a formal evaluation with a cosmetic dermatologist. Moles can be removed with laser, radiowave or shave. There is always a chance of scar but this can be reduced with good technique and the right treatment choice.  Best, Dr. Eme

Thanks for your question and helpful photo.  This can definitely be removed, and as long as you are seeing a board certified dermatologist or facial plastic surgeon or oculoplastic surgeon, you will be in good safe hands.  This is a delicate area, but if it is removed with a simple shave technique and electrocautery of the base, it is unlikely to recur and will heal with a barely visible small scar.  Please see an expert, and best of luck!

Thank you for your question and photographs. 
There are multiple different techniques to remove a lesion. The spot can be shaved off, which would leave you with a circular, slightly indented scar similar to a chicken pox scar, and the possibility of the lesion returning. The other form of removal would be an excision, which would leave you with a linear scar. Other options include laser treatment. I highly recommend you consult with a board certified dermatologist or plastic surgeon to have your lesion evaluated and to discuss treatment options that best suit your needs. Take care and good luck.