Council officers found that a saving of about $75,000 was possible by reducing opening to weekends only for the first four weeks of the season.
It would then open for seven days over eight weeks (excluding Christmas Day) and then another four weeks of weekends, a total of 71 days.
The council is proposing to change the opening hours from 9.30am-5.30pm to 10am-6pm, except for the first Monday to Friday of operations.
Council papers say that due to community feedback, it was also considering opening parts of the park outside the season as a playground.
The destination playground would include Wonderland Mini Golf, the Fantasy Land Express, the Jungle Jeeps, Tiny Town, Tree House Playground and the Coffee Bean Cafe.
It would be open on weekends from 9am-4pm during Splash Planet’s off-season.
The reduction of summer operating days and the introduction of the playground would mean Splash Planet would be open 160 days, 71 days of full operations during summer and 88 days of partial operations for the playground during cooler months.
Splash Planet is a water-themed amusement park with indoor and outdoor pools, waterslides, a lazy river and dry play activity areas.
It was formerly known as Fantasyland, a dry-ride theme park run by a trust until the 1990s.
The council will discuss options at its meeting on Thursday, June 26.
LDR is local body journalism co-funded by RNZ and NZ On Air.