Part of the prize is guaranteed selection for the next competition in two years.
Mr Powell was selected for the competition after being named one of the top two technicians in New Zealand following exams and was flown to Australia to take part.
For the watersport-mad man, being able to work in the marine industry for the past decade has been a dream job.
"I progressed my hobby into a job. I was always keen to get into the marine industry."
He served a mechanical apprenticeship with the New Zealand Air Force, but always hoped the skills would transfer to allow him to work with boats, one of his passions.
"The skills are all transferable. I was a ground technician so worked on everything from vehicles to generators."
Mr Powell credits the skills learnt in the defence force with helping him develop in his career.
"The military teaches you that attention to detail and that need to adapt and the No8 fencing wire type mentality."
While he loved his time in the air force, including two overseas deployments, he said the travel meant it was "time to get out".
"This is definitely the dream job now."
Mr Powell said the best part of his job was the "mechanical side of things" - working out the cause of problems and getting out on the water to test the boats.
While his service manager position does take him away from the tools a bit, Mr Powell still makes an effort to get into the workshop.
Still, he is developing management skills that he hopes will one day lead him to owning his own business.
And as for the competition in two years?
He's got high hopes that even more months of studies of the intricacies of outboard motors and their workings will be enough to see him take out the top prize next time around.