The vessel, which had been protected with lengths of alkathene pipe, left Kerikeri just before 5am on Thursday and arrived unscathed at Opua about 5.45am.
The next challenge would be maintaining the project's momentum, Clode said.
The volunteers were anxious to keep going and public expectations had been raised, but the project's funding was increasingly stretched.
Meanwhile, also on Thursday, the Far North District Council approved a grant of $21,000 towards the project.
The money will come out of the $265,000 annual operational grant for the Pou Herenga Tai Twin Coast Cycle Trail Trust.
The funds will be used to ship a steam engine from North America. The Sisson engine, one of two which wil drive the Minerva, was originally built for a World War II minesweeper.
The cycle trail, the Minerva and the Bay of Islands Vintage Railway are being developed as an integrated tourist attraction. The three groups are understood to be making a joint funding application to the Provincial Growth Fund.