The smallest my waist has ever been is 25 inches and even then it looked pretty tiny, especially considering I still had 37 inch hips!
Yes, it can be achieved by weight loss, but whether in your case that is healthy is another matter. It is also not necessary, no-one needs to have a 24 inch waist unless they are thinking of going into the modelling industry.
HTH : )

Get a tape measure and see for yourself.

Your genes have a lot to do with what your bone stucture will be. And no, it is not achieved by weight loss alone. If your bone structure and pre-disposal to being a certain weight is not meant for you to have a 24 inch waist then you'll never have it.