The Luptons will also be testing their own new boat at Mangakino as patriarch Warwick Lupton has purchased the GP57, also from Canada, which they are busy fitting with an engine and other running gear.
Oldest son Ken Lupton, who won the Australasian championship known as the AE Baker Trophy in Tauranga back in March, will also be racing his American-designed Cheetah boat, which he brought to these shores in late 2012 and has been developing ever since.
But the arrival of Warwick's GP57 opens the door for another member of the competitive racing family to sit behind the wheel.
Warwick Lupton's youngest son, Jack, has crewed for him and his brother and will now drive the Annihilator craft which was designed in New Zealand and built by Lupton senior three years ago.
Moughan said the Annihilator had really come along in its development, which bodes well for Jack Lupton.
As well as the Waverley contingent, Otorohanga's Scott Coker spent the winter extending his sponsors' generosity to undertake more work on his Fair Warning craft.
Aside from the big boys in the Grand Prix hydroplanes, the wider powerboat racing fraternity has increased in size this summer, a delight for Moughan.
"We expect to have 60-70 boats at the Karapiro events. We will also have water ski racing with two rounds of their national series, and NZ Offshore Powerboats at the March event with a round of their national championship."
On the line at Lake Karapiro will be the new Joe Robinson Trophy, the Marsh Motor Sport Trophy, Des Geddes Memorial (beach start), and Round 4 of the NZ Formula 1 tour.
After that will be the 89th Masport Cup Regatta at Twizel's Lake Ruataniwha, with the cup currently held by the hosting racing club New Brighton.
Then on March 15-16 is the big one at Lake Karapiro the 2014 AE Baker Australasian Hydroplane Championship, currently held by Ken Lupton and usually featuring hydroplanes from New Zealand and Australia.
Also at this event will be the last round of the NZF1 Tour, the North Island Pro Stock, North Island Unlimited Unrestricted, Dennis Taylor King of the Lake, and Round 4 of the NZ Offshore Powerboat Championship series.
If one thinks producing craft with speeds exceeding 300km/h is straightforward for these drivers and their crews, then one only has to take a look at the above photo of Raymond Hart's boat The Boss.
Hart earned national television coverage at the start of December when he crashed spectacularly at 260km/h on Lake Dunstan at Cromwell, a first for the sport in this country.
The driver emerged unhurt and unbowed after rescue divers pulled him from his submerged vessel.
"He was very lucky he was on air as he was stuck in the cell for six minutes before they could get him out," said Moughan.
"The boat is nearly fixed, goes into the painters this week, and will be at the Karapiro events."