Specifically, they live high in the Colombian Andes in Los Nevados National Natural Park. It is located in the west of Colombia, towards the center of the country. It is about a four-hour car ride from Cali.
The trees rely on the rainy climate and the mineral-rich volcanic soil to help them grow.
Fortunately, these palms are protected by the national park status of their location. Since 1985, it has also been illegal to cut down wax palms in Colombia. The biggest worry would be people illegally cutting down whole or parts of the palms. Deforestation could also threaten palms not within the protected region of a national park. They are not currently threatened by the natural climate, although if a nearby volcano erupted, that might be a worry!