Twenty-two years ago Poulter bludgeoned to death a woman who worked as a prostitute on Auckland's Karangahape Rd.
He then wrote a confession letter to the Herald, claiming he would kill again.
A week later, the former demolition worker killed a massage parlour worker, her boss, and tried to kill another worker.
Poulter was sentenced to life in jail for the 1997 killings.
Poulter, now 56, was denied parole in 2016 and 2017.
He was seen again by a board panel led by Judge Eddie Paul on May 17.
The board said Poulter had completed "all intensive rehabilitation programmes to address the drivers of his offending" - in particular drug and adult sex offender programmes.
He had also participated in "significant one-to-one counselling" between 1998 and 2002.
When the board saw Poulter last year he had completed five guided releases into the community and was applying for further opportunities for release to work outside the prison.
"There was planning under way in terms of his release proposal and future relationships," said the board's decision.
Since his last hearing, Poulter has progressed to a prison self-care unit.
"He has continued to apply for release to work but at this stage none has been offered to him," said Judge Paul.
"He does, however, point to the almost three years he spent on release to work with private contractors, while constructing various buildings for the prison.
"That was not in a custodial setting, so very much a testing environment."
Judge Paul said Poulter had now had 20 guided releases.
"All advice we received is that that has gone well," he said.
"Those releases have been to a range of venues and only positive reports have been returned."
A psychologist's report from April said Poulter had "demonstrated flexibility of thought".
"He was assessed then as a moderate risk of general offending and moderate to low sexual offending," said Judge Paul.
"His release proposal to a rural address with family members where work was provided was considered appropriate after assessment by the report writer."
The board spoke "at length" with Poulter at his recent hearing and canvassed his guided releases, work history and time in prison.
"Accordingly after consideration of all the material presented we are satisfied that Mr Poulter has sufficiently reduced his risk, that he can be released on parole subject to conditions which are extensive and will support his release into the community," said Judge Paul.
All but one of Poulter's special conditions will be in place for five years.
The condition that he not consume drugs or alcohol will remain in place for the rest of his life.
Judge Paul said that was due to the "specific link" between drugs and alcohol and Poulter's offending.
"Mr Poulter has had explained to him the consequences of that drug and alcohol condition - that he can be tested and monitored by Corrections at any time," said Judge Paul.
He said there would also be "significant limitations on his movement".
Poulter would also have to see the board again in five months to monitor his progress.
Poulter's parole conditions include attending any assessments, treatment programmes, counselling and residential rehabilitation as instructed by and to the satisfaction of his probation officer.
He must also live at an approved address and not move without permission.
He will be on a curfew and must be at the address from 10pm to 6am every day unless he has permission from his probation officer.
Poulter must also seek permission before he starts, changes or leaves any employment.
Other special conditions include:
• To tell his probation officer as soon as possible if he starts an intimate relationship
• Not to enter Auckland region or areas north of the line from Huntly, Paeroa to Whangamata without the written approval of a probation officer
• Not to contact or associate with the victims or families of his victims without his probation officer's permission
• He is not to use escort agencies, prostitutes or massage parlours without permission from his probation officer
• He is not to advertise in print or the intnet or respond to such ads without his probatgion officer's permission
