Quasicrystals are long-range ordered, yet not periodic, and thereby present a fascinating challenge for condensed matter physics, as one cannot resort to the usual toolbox based on Bloch’s theorem. Here, we present a numerical method for constructing the Hubbard Hamiltonian of non-periodic potentials without making use of Bloch’s theorem and apply it to the case of an eightfold rotationally symmetric 2D optical quasicrystal that was recently realized using cold atoms. We construct maximally localised Wannier functions and use them to extract on-site energies, tunneling amplitudes, and interaction energies. In addition, we introduce a configuration-space representation, where sites are ordered in terms of shape and local environment, that leads to a compact description of the infinite-size quasicrystal in which all Hamiltonian parameters can be expressed as smooth functions. This configuration-space picture allows one to efficiently describe the quasicrystal in the thermodynamic limit, and enables new analytic arguments on the topological structure and many-body physics of these models. For instance, we use it to conclude that this quasicrystal will host unit-filling Mott insulators in the thermodynamic limit.