I was going to make some front and back darts to shrink the waistband to the appropriate size, and I decided to take the elastic out of the back waistband to keep the darts smooth. After removing the elastic, I ironed in some interfacing to stabilize and stiffen the waistband a little.
When I was trying on the skirt to see how much material I needed to remove to get the waist the right size, I realized that it might work as a wrap skirt. There was about an eight inch overlap at the front. I really liked the way it looked, so I decided to go with that. I chose to put the side with the buttonholes under and the side with the buttons over, so there's a nice column of buttons going down the left front of the skirt. In the end, after I had placed all the buttons and snaps, the waistband seemed to have relaxed a little more, so I added two small pleats in the back of the skirt to get it the right size again.
I added a button to the waistband on the left side and snaps under the first five buttons on the right to close the skirt. It took me a few tries to get the snaps lined up just right. Then I poached a little material from the facing on the left panel (the "under" panel) to repair a hole on the button placket, and I was good to go.
I'm really pleased with this refashion. I've been wanting to wear this skirt for so long, and now I can. I think this can be dressed up or down, and it's nice and breezy for summer, but I could easily layer underneath it in the winter. It might be a little frumpy looking, but maxi skirts are in right now, so I think that makes up for it. (I don't really care that much, either, if I like how I look.)