Waikawa Fishing Company: Bringing a New Zealand delicacy to a global market

How Waikawa Fishing Company is innovating to provide a sustainable seafood market for present and future generations.

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Beneath the surface of New Zealand’s southern waters, a new industry is quietly taking shape. At its helm is Waikawa Fishing Company, a Māori-owned, family-run business pioneering the country’s first deep-sea king crab fishery.

Founded by the Connor brothers, and growing to become a family business, Waikawa has a vision for innovation and intergenerational stewardship, shaping a legacy for the future.

The principle of guardianship

From the beginning, Waikawa approached its work with a deep respect for the ocean. The company’s ethos is grounded in the concept of ‘kaitiaki’ – the principle of guardianship over the natural environment.

For Waikawa, this means acknowledging that its livelihood depends entirely on the health and regeneration of the marine ecosystem. Without a thriving ocean, there is no seafood to catch, no business to grow, and no future to pass on.

Finding balance

Waikawa actively chooses to find a balance between commercial growth and ecological responsibility. Its approach is rooted in New Zealand ingenuity, developing new technology and equipment designed to minimise environmental disruption.

Its catch practices are carefully calibrated to avoid overharvesting and to protect the seabed.

Every decision is made with sustainability in mind, from how they fish to how they educate overseas markets about the value of New Zealand’s king crab.

Meeting the challenge face-on

Building a high-value export pipeline from scratch has been no small feat. Waikawa has had to introduce international buyers to a product they didn’t expect to come from New Zealand, while also navigating the complexities of a still-developing industry.

The volatility of fisheries adds another layer of challenge. Yet Waikawa has remained steadfast, guided by its commitment to nature, its people, and the long-term viability of its business.

The fishing industry is different

BNZ has been supporting Waikawa on this journey, as a banking partner that understands the unique demands of the fishing sector. We know banking a fishing business is not like banking other industries.

“At Waikawa Fishing Company, we understand that the seafood industry carries inherent risks, from the environmental footprint to the unpredictability of wild harvest,” says Steve.

“We value sustainable fishing models – not just as a future-proofing strategy, but as a way to build resilience and unlock new market opportunities today.”

Working together for a better future

The partnership between Waikawa and BNZ is built on shared values. Both organisations believe in finding ways to support our environment.

For Waikawa, this means creating an intergenerational business that honours its Māori heritage and protects the ocean for generations to come. For BNZ, it means supporting customers that are investing in sustainable innovation.

Taking the long view

As its deep-sea crab fishery continues to evolve, Waikawa Fishing Company remains a beacon of what’s possible when business and nature work in harmony.

Its story is one of resilience, creativity, and care — a reminder that the most successful ventures are often those that take the long view, guided not just by profit, but by purpose.

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