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Abstract Understanding the physical mechanisms responsible for the cross‐scale energy transport and plasma heating from solar wind into the Earth's magnetosphere is of fundamental importance for magnetospheric physics and for understanding these processes in other places in the universe with comparable plasma parameter ranges. This paper presents observations from the Magnetosphere Multiscale (MMS) mission at the dawn‐side high‐latitude dayside boundary layer on February 25, 2016 between 18:55 and 20:05 UT. During this interval, MMS encountered both the inner and outer boundary layers with quasiperiodic low frequency fluctuations in all plasma and field parameters. The frequency analysis and growth rate calculations are consistent with the Kelvin‐Helmholtz instability (KHI). The intervals within the low frequency wave structures contained several counter‐streaming, low‐ (0–200 eV) and mid‐energy (200 eV–2 keV) electrons in the loss cone and trapped energetic (70–600 keV) electrons in alternate intervals. The counter‐streaming electron intervals were associated with large‐magnitude field‐aligned Poynting fluxes. Burst mode data at the large Alfvén velocity gradient revealed a strong correlation between counter streaming electrons, enhanced parallel electron temperatures, strong anti‐field aligned wave Poynting fluxes, and wave activity from sub‐proton cyclotron frequencies extending to electron cyclotron frequency. Waves were identified as Kinetic Alfvén waves but their contribution to parallel electron heating was not sufficient to explain the >100 eV electrons.