Metservice has forecast possible heavy and thundery rain easing to showers in the evening. A southerly could rise to gale-force in exposed places.
There are 46 teams taking part in the festival, 44 of them from New Zealand, including three from Wellington. There is a team each from the Australian cities of Perth and Sydney.
While Te Matatini has gone ahead today, another big event for the region, Wings over Wairarapa, has been canned.
A mix of low cloud, wind and rain has made the final day unsafe for the public and pilots.
It's the second disappointment this weekend, after an American B-52 bomber was unable to fly to New Zealand because of mechanical issues.
Event chairman Bob Francis said cancelling today was the right decision.
"We're definitely disappointed but we've had two amazing days."
A prizegiving for Te Matatini finalists will be held at 3.20pm.
Fans have brought chairs, chilly bins and blankets with them to Westpac Stadium. Photo / Georgina Campbell
The nine finalists are:
Te Mātārae I Orehu Mōtai Tanagata Rau, Te Kapa Haka o Te Whānau a Apanui Ngā Tumanako Tūhourangi Ngāti Wāhiao, Te Pou o Mangataawhiri, Whāngārā Mai Tawhiti, Te Iti Kahurangi Te Pikikotuku o Ngāti Rongomai.
Reporter Sarah-Jane is at Te Aroha Primary School, where the kapa haka group is learning a new waiata just in time to ring in Matariki. Video / Kea Kids News