You can only change ONE letter, AND/OR rearrange the letters currently available. The first word is:
WINS
know
knob
honk
horn
hoar
rhea
arch
ache
hake
hawk
wake
cake
coke
cope
pose
spot
toes
toes
twos (in view of @3906 and @3907)
swat
Swat'samatta?
swot
owls
slow
soul