Mr Henare told The New Zealand Herald some prices faced by tourists in New Zealand were too steep and he was monitoring them closely.
The minister said he had raised "extreme" price rises with some operators.
"I do think prices are steep at the moment," he said.
He appreciated operators were making up for earnings lost during the depths of the pandemic, when borders were closed.
"But you don’t have to do it all in the next 12 months.
"Allow us to build and allow us to make sure that people can enjoy amazing experiences without having to pay extreme amounts."
Destination Queenstown chief executive Mat Woods said tourism businesses were like any other businesses, having been hit hard by inflation.
He said a survey showed accommodation rates were not getting out of control.
"Our research shows that the average daily rate for Queenstown commercial accommodation providers in the first quarter of 2023 is slightly lower than 2019 levels," he said.
"Queenstown also continues to offer a wide range of accommodation to suit different budgets."
IFly Indoor Skydiving operator Matt Wong, of Queenstown, said most activity operators had not raised their prices.
He said more than half the market was made up of domestic visitors and Australians, who were price sensitive, so operators could not afford to raise prices too much.
He said his prices were actually below 2019 levels.
"The domestic market was what kept us afloat during Covid, so you cannot turn round and take advantage of them."
Smaller, locally owned businesses were nimble and could read the Queenstown market quicker, he said.
Those who were part of a worldwide chain and were subject to decisions made overseas might be being hit by price rises decided offshore.
Mr Henare appeared to be one of the better tourism ministers of recent times and seemed concerned about the industry, Mr Wong said.
Real Journeys NZ acting chief executive Paul Norris said the company’s prices were set in July-August for the coming year and they had not changed since last year.
He said inflation had to be passed on and there was likely to be a price increase because of cost pressures.
Te Anau business owner Sarah Greaney runs a retail outlet, a cafe and boutique accommodation in the town, and said she tried to keep prices as low as practical.
She compared the prices of other businesses with hers and felt she was competitive, but Government controls hurt, she said.
"When you are looking at a $1.50 increase in the minimum wage then you have to incrementally increase everyone else’s pay level ... You may not be paying them minimum wage but it is all relative."
Mr Henare said he expected prices to fall as more tourism capacity was added to meet an increase in international numbers.
