The race, which will take place on Saturday, is organised by the Wakatipu Yacht Club and commemorates the voyage made by explorer Donald Hay from Kingston to Queenstown, in a basic raft in 1859.
The Donald Hay Classic is open to all trailer and keel yachts, 5.2m and over.
Christchurch man Milton Bloomfield has has built a carbon fibre sports boat, Magic Trick, which he hopes will encourage a greater interest in trailer yacht racing.
Mr Bloomfield is the technical director of design and engineering company Dynamic Composites, credited with the development of the Olympic bikes ridden by Sarah Ulmer, Hayden Roulston and Alison Shanks.
"I grew up sailing and my Dad used to come down for the Donald Hay race," he said.
"Sports boats are not a new concept, but they have been slow to take off.
"But these boats make for fast, fun and exciting sailing and we can continually develop and increase performance."
Mr Bloomfield and sailmaker friend Phil Auger decided to build two sports boats, in the hope they would spark interest among racing yachties.
While Mr Auger's is constructed of wood and fibreglass, Magic Trick is carbon fibre.
Mr Auger raced his boat Badonkadonk in the Donald Hay Classic last year, notching up the fastest time on the water, but it is the first time Magic Trick has been to Queenstown since its completion in December.
While traditional trailer yachts can weigh more than 2000kg, Mr Bloomfield said Magic Trick, which has reached speeds of over 18.5 knots, weighs just 250kg.
Designed for speed, the sports boats do not have cabins and the crew lean out over the sides supported by trapezes, similar to those used on racing dinghies.
"That helps to balance the boat, as the keel on a sports boat is only about 100kg, compared to up to 500kg on a traditional yacht."
Wakatipu Yacht Club member Andrew Husheer said the organisers were delighted to see the addition of a new breed of lightweight sports boat competing.
"These boats are fast and exciting to watch.
"They are like mini America's Cup yachts and certainly add a new dimension to this historical event.
"But the race relies on skill as much as technology, and knowing the local conditions and the effect of the winds and natural surroundings plays a big part in how a team performs," he said.
The Donald Hay Classic originally followed the route taken by the explorer between Kingston and Queenstown.
In recent years, a new course was developed around buoys, but to mark the race's 30th anniversary last year, it returned to its traditional route and that will continue this year.
Mr Bloomfield said: "Every time I have competed the conditions have been different, and we are hoping for a big southerly on race day."
