Defence lawyer Paul Wicks QC said that at the time of his arrest Hakaraia was a cocaine user but was not dependent.
He had since ceased using the drug and it was "something he has permanently put behind him in his life."
The defence lawyer said Hakaraia had learned a very "significant lesson".
Wicks emphasised his client's good character as he had been involved in "substantial community endeavours" over the course of many years.
Justice Lang said Hakaraia and others had earlier been the subject of a long-running police operation looking into the distribution of drugs in the wider Auckland area.
That covert investigation was called Operation Nova.
When police searched Hakaraia's home on April 11 last year, 27.6g of cocaine was found inside a Nike shoe and 18.2g of powder containing cocaine and methamphetamine discovered in a bag.
In sentencing Justice Lang recognised he was appearing for the first time at the age of 42 making him "obviously entitled to call on your good character".
He had also been involved in charitable work over the course of many years, the judge said.
Counsel agreed that the matter should be dealt to by way of a fine.
Justice Lang said Hakaraia should consider himself "fortunate the crown supports this" as the amount possessed was at the "top end" and would usually call for prison or a community-based sentence.
It was appropriate to impose the maximum financial penalty of $1000 on each charge, he said.