Excellent Walaza handed the Buccaneers a first half lead, but Dingane Masanabo leveled matters with a good strike midway through the second half.
Pirates looked the better of the two sides in the opening stages and deservedly went ahead in the 21st minute when Walaza found the back of the net with a superb strike from a cross by Lebohang Mokoena.
Platinum Stars rarely threatened the Pirates goal, with the hosts failing to produce a single save from visiting keeper Senzo Meyiwa.
The score remained 1-0 at the break.
Stars showed more urgency in the second half, which was a start-stop affair, littered with fouls.
The hosts almost drew level in the 72nd minute when substitute Solomon Mathe hit the crossbar with a powerful header.
But the visitors could not prevent Stars from drawing level four minutes later though, when Masanabo slotted home from close range following a good pass by George Mofokeng.
Both sides resorted to long range shots towards the end of the game, but neither side could add to their tally.