The wooden jetty of unknown age and construction is in shallow water beside the walking track and lakeside reserve at the bottom of McKay St, near Eely Point.
Lakes Property Services property manager Jo Conroy told the board yesterday the jetty was not considered particularly dangerous and was unlikely to fall over.
But it was narrow and people could fall off.
The harbourmaster has deemed it to be unsafe for several reasons, including lack of compliance with the building code.
"I suspect it has been there a long, long time.
"People probably went out there of a Sunday afternoon and knocked it together. That's how things used to happen," she said.
Wanaka councillor Jude Battson said the jetty was an "icon".
If sold, it would be conditional on the owner rebuilding it and allowing the public to use it.
Only the owner would have the right to moor there.
