Lake Wakatipu is a large, S-shaped glacial lake in the Otago region of New Zealand's South Island, with the tourist hub of Queenstown situated at its middle bend. The lake is fed by glacier melt, and surface water temperatures reach a maximum of approximately 10°C, making cold-water immersion a serious consideration for paddlers at any time of year. Conditions can deteriorate rapidly, and the lake can become very rough very quickly, so paddlers should exercise caution and be prepared for sudden changes in weather and wave state.

Access points are distributed around the lake's shores. Boat ramps and launch facilities are available at Kingston, Frankton Marina, Kelvin Heights, Queenstown, Sunshine Bay, and Glenorchy, with small boats and kayaks also launchable at Kinloch. Parking at the Queenstown access point can be difficult during peak periods. Caution is advised at river mouths, which have unstable edges and strong currents.

Paddlers should be aware that Lake Wakatipu is a busy motorised waterway. Speed restrictions, give-way rules, and designated ski lanes are in force, and all vessels must carry lifejackets sized for every person on board. Wearing a lifejacket is compulsory at all times in any boat six metres and under, and in adverse conditions. Proper navigation lights are required after dark.

Guided kayak tours operate from the Kinloch end of the lake, at the head of the lake near Glenorchy, running from October through May. These tours explore native bush shorelines, hidden coves, and areas with limited foot traffic. Single and double kayaks are available through various operators. For those paddling independently, following the shoreline around the Queenstown Gardens is a practical route that keeps paddlers clear of heavier motorised traffic. A day trip to Pigeon Island is approximately 2 km each way from the Queenstown shore and includes a walking track and basic hut accommodation. The lake is surrounded by substantial mountain terrain, and the historic steam ship TSS Earnslaw is a regular sight on the water.

When wind is strong on the main lake, the nearby Moke Lake offers a more sheltered alternative for flat-water paddling.