太酷了。(Tài kù le.) It’s so cool!
Example:
Zhè shì gěi nǐ de shēngrì lǐwù.
A: 这 是 给 你 的 生日 礼物。
Here’s your birthday present!
Wa, wǒ zuì ài de biànxíngjīngāng. Tài kù le!
B: 哇，我最 爱 的 变形金刚。 太 酷 了！
Wow, Transformers. It is so cool!
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But 晚 also means late.
Actually, 晚 is usually used with other words to create different nouns, such as 晚上evening，晚安good night，晚辈junior and so on.
Yes, in Chinese people usually say 太晚了 to mean it’s too late.