The Stonewood Homes house at Lot 22 West Meadows is being built as a fundraising event for the Willowridge Wanakafest 2009 and will be sold at a no-reserve auction on site at 4pm on October 14.
The proceeds are to be split between next year's festival and a yet-to-be-decided community asset for Wanaka.
Builder Mark Evans said yesterday the "gib in one day" attempt began at 8am.
The team of 14 builders from four different companies were well down the track to competing the task at noon and looking forward to swapping their tools for a beer at 5pm.
"It is a good atmosphere. It looks like all the guys are getting stuck in," Mr Evans said.
Stonewood homes representative John Herbert said the gib-in-one-day attempt was a good way to try and keep deadline pressure at bay.
Four building companies have also donated one week each towards the house, working on a different aspect such as frames, floors, windows or wrapping, Mr Evans said.
Wanakafest event manager Laurel Morrison was thrilled with the progress the builders were making.
"It is amazing to see it is really going to happen," she said.
Although Wanaka's annual spring celebration is still two months away, Ms Morrison expects the weeks will fly by.
The four-day festival programme is now on the Wanakafest website and includes the annual festival street parade, polar plunge, Passion 4 Fashion show and a wine and food festival.
New activities include the Ruby Island Circus and what is believed to be New Zealand's first urban downhill mountain-bike race, for which Wanaka Community Board approval will be sought next week.
A 24-hour climbathon is another new activity and will take place at the Basecamp climbing wall.
Ms Morrison said Wanakafest, now in its 22nd year, was being organised on a modest budget of about $73,000.
• The Kahu Youth group has set the theme for this year's street parade - "Illuminate".
The parade starts at Cinema Paradiso at 5.30pm on October 16.
Kahu Youth is running lantern workshops in early October.
Parade entries must be with Kahu Youth by October 2.
