Two men, their faces concealed, entered the woman's home in Esplanade St at 6pm, assaulted her with a length of wood and then ran from the scene, police said last night.
Two members of the public (55 and 65) were also assaulted by the pair as they left the property.
The woman was transferred by helicopter to Dunedin Hospital and the two members of the public were treated for minor to moderate injuries at Balclutha Medical Centre.
Senior Sergeant Craig Brown, of Dunedin, said police were searching for the offenders, described as either Maori or Polynesian, aged between 18 and 20, and about 1.7m tall.
Both men were described as having slim/muscular builds. One of the males was wearing a dark blue hooded top, blue jeans and black shoes.
Police asked that anyone who was in Kaka Point around the time of the incident and might have seen the offenders entering or leaving the property to contact the Balclutha police.
''It is believed a number of people may have witnessed events following the burglary and police would appreciate hearing from those people,'' Sen Sgt Brown said.
