As part of its design certification effort, NuScale Power has completed a series of low mass flux [<1000 kg/(m2‧s)] critical heat flux (CHF) tests for a wide range of pressures at Stern Laboratories in Canada. Earlier studies have demonstrated that under annular flow conditions, disturbance waves with circulating vortices traverse the rod surface. The disturbance wave slides over and significantly influences energy transport in the co-current vapor-liquid sublayer at the heater interface. This paper describes the mechanisms leading to the onset of CHF in a vertical rod bundle experiencing annular mist flow conditions. The paper presents a new CHF model that implements a local disturbance wave velocity. A comparison of the model to the U1 CHF data set from Stern Laboratories shows excellent agreement over the full range of annular mist flows, pressures, and subcooled conditions for the specific spacer grids implemented in the study.