In your sentence, both present and past can work, but they convey slightly different nuances:
1. Present Simple: "Turns out that my hair is naturally wavy."
* This sounds more immediate, as if you've just made the discovery, and it's a fact you're now aware of.
2. Past Simple: "Turned out that my hair was naturally wavy."
* This reflects that the discovery was made in the past, and you're narrating it as something that happened.
Present simple is more natural here if you're talking about a new realization that's still relevant.