But full wreck removal will extend the period of the exclusion zone, involve greater destruction of the reef and present risks to workers in volatile and dangerous conditions.
Iwi oppose the plan, citing concern about future debris washing ashore from containers believed to be still inside Rena's hull. The reef has cultural and spiritual significance to iwi and this should not be dismissed.
However, leaving it on the reef also presents a unique opportunity for tourism operators.
If left where it is, the Rena would attract and nurture marine life in years to come, fishing and dive charter operators say.
You don't have to look too far afield to see how dive wrecks can be a major tourism boost.
In Northland, the sunken naval ships Waikato and Tui, have become major drawcards for visiting divers and successful charter businesses have sprung up to cash in on the market.
The major difference between those wrecks and the Rena is that their sinkings were planned and were clear of debris when they sank below the surface.
The obvious rider to the proposal to leave the Rena on the reef is that the owners and insurers need to be able to show that it presents no danger to the public, would support the reef's future regeneration and would not pose a hazard to navigation.
It also needs to guarantee that the wreck poses no threat to the marine environment and that all possible contaminants have been removed.
As long as these conditions are met, then the plan to leave the Rena on the reef and the possible economic benefits of doing so should be explored.