"It’s a great companion to what makes Queenstown special," Mr Bowden said.
Off the end of St Omer Wharf, "Watershed" will offer two saunas and two plunge pools.
Mr Bowden, who moved to Queenstown earlier this year, said he hoped the attraction would open either just before or after Christmas.
Mr Bowden had seen floating saunas overseas, including one on Lake Derby, Tasmania.
People were now overstimulated from being tethered to mobile phones and feeling the digital world’s taking over, he said.
Being in nature was an antidote to so many of the mental health problems people faced.
Mr Bowden said his product was "that sort of sustainable tourism where we’re really celebrating what makes New Zealand special".
He also believed Watershed’s location, near the CBD with views up the lake would be a winner.
Having made his name hosting reality shows such as NZ Idol, Dancing With The Stars NZ, The X Factor NZ and The Bachelor NZ, he was excited to play host at his new attraction.
The structure was being built in Christchurch and the heat-generating sauna motors were coming from Finland.
Mr Bowden said locals had been very receptive to the concept and said the floating sauna would cater for both couples and groups of up to 14.
His business partner, Andrew Glenn, who founded Waiheke Island restaurant The Oyster Inn, had also moved to Queenstown.
"We are frantically pushing towards the finish line."
