Covered or flooded with water. The streets were awash after the heavy rainstorm.
Filled, covered, or completely overrun as if by a flood. The market was awash with new products after the trade fair.
The company was awash with cash after the successful product launch.
So low in the water that the surface washes over; level with the surrounding water. By the time help arrived, the boat was awash and close to sinking.