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KJet director Shaun Kelly said the day was always hugely popular because of the discounted price and the fact money went to two local charities.
Locals' day rides are $20 for adults and $10 for 5 to 15-year-olds.
''We're one of Queenstown's first adventure activities and the first commercial jet-boat company, which the Christian Youth Trust helped set up,'' Mr Kelly said.
''We strongly value our community roots and this is one day where, thanks to great local support, we can give back to our community.''
The KJet Locals Card will also be launched on Saturday. The card is $50 for adults and $30 for children and is valid for 12 months.
''What that means is that anyone who takes a ride with us on locals' day can pay just an extra $30 or $20 for the card and go jet-boating all year round,'' Mr Kelly said.
Locals will need to bring a bill or payslip with proof of residence and the day's rides are payable by cash only.