Detective Inspector Tom Gollan said the men were found on 1 June at a commercial address in Auckland's Onehunga.
They were arrested after they allegedly attempted to break into a container where 17 kilograms of cocaine had been placed.
Gollan said the men were believed to be members of an organised crime syndicate and that they only came to New Zealand to pick up the drugs.
One man is an Australian national while the other is New Zealand-born but living in Australia.
Gollan said they were arrested as they left the container yard on electric scooters.
"They left behind a ladder that had transported to the yards by way of the scooters.
An investigation has shown the container made its way to New Zealand from Brazil, having transited through Brisbane in Australia before arriving at the Port of Auckland in late May.
Police said the value of the cocaine was $7.65m but it was not known if it was meant for the New Zealand or Australian market.
"This is the 26th TNOC Operational Cell that has been identified and dismantled since 2017," Gollan said.
"It is disconcerting to see overseas transnational organised groups insert their people into New Zealand to facilitate these crimes and demonstrates their willingness to profit from community misery.
"While these TNOC groups continue to evolve and adapt their offending to avoid detection, but so do we, and yet again we were one rung ahead of them."
Customs manager Dominic Adams said the "successful seizure" showed partner agencies like police and Customs are always one step ahead of criminal groups.
"We are ever-vigilant to stopping the harm that dangerous substances such as cocaine can cause our communities."
The two men have appeared in the Auckland District Court and will next appear on 25 June.
