Rotorua Half Ironman event director Steve Nicholls said the event is more about the social side of the sport, the camaraderie and friendly atmosphere than it is about elites and prize money.
"When you sign up for this event you'll get a showcase of everything we believe makes triathlon such a great sport.
"An incredibly stunning and testing course and an inviting social atmosphere ... with people who are ready to race hard and play hard."
New Zealand Olympian and world number 19 Ryan Sissons will be taking part in a team race on the day.
A prizegiving will be held at 2.30pm on Saturday, with the event winners taking home metre-high stuffed animals, as part of their prize.
The combination of the two events is being supported by the Rotorua District Council and the Rotorua Association of Triathletes and Multisport (RATS).
Registration for the event will be held at Holiday Inn Rotorua, on Tryon Street, from 4pm to 8pm on Friday. Late registration can also be made on Saturday morning before each event.