Though the deadline for All Blacks to decide whether to play sevens appears to be moving all the time, Highlanders general manager Roger Clark said Fekitoa was the only All Black from the Highlanders who had declared an interest.
Other candidates such as Ben Smith and Waisake Naholo have decided against chasing the Olympic dream and will commit to the Highlanders.
Under rules set up by New Zealand Rugby, All Blacks - and other players who are not sevens regulars - will only be able to play 10 games in the expanded Super rugby competition next year.
After that, they will have to play in sevens tournaments and go into a fitness regime to get their bodies attuned to the quicker sevens game.
Chasing the sevens dream could cost players financially, as they will have to give up All Black match payments.
Smith, who won gold with the New Zealand team at the Delhi Commonwealth Games in 2010 and was seen as a player national sevens coach Gordon Tietjens was after, has decided against the chance to go to Rio de Janeiro.
With a young family, the Highlanders captaincy and a chance to cement the fullback position in the All Blacks next year, Smith has plenty on his plate in 2016.
Naholo has indicated he wishes to chase an All Black jersey next year and is not interested in playing sevens. He played sevens for New Zealand in 2013.
There had been doubts Fekitoa could play at Rio de Janeiro, because of citizenship issues, but that is expected to be cleared up well before the Games.