In brief: The Lake Waikaremoana Track is the least popular of the New Zealand Great Walks, probably due to the difficult access. On the contrary it is this relative remoteness, which none of the other Great Walks has, that makes the walk exceptional:
40 km (GPS, officially it is 46 km) between the Onepoto and Whanganui huts circling part of the Waikaremoana lake, the highest point being the Pankire Bluffs overlooking the lake. Most of the walk is undulating through ancient forests next to the lake side which is quite tough at times. The Korokoro falls side-trip is a must!
The Lake Waikaremoana track could probably be walked in two days, spending the night either at Waiopaoa or Korokoro Campsite.
The biggest challenge of this walk is organizing transport from the trailheads. Even with a car, it can turn out a nightmare as the last 50 km of the road driving from Rotorua is unpaved.
The view from the Panakiri bluffs; walking through the ancient forests; the Korokoro falls.
Lake Waikaremoana Itinerary, camping, January 2016:
Onepoto Landing-Waiopaoa Hut-Tapuaenui Campsite-Whanganui Hut-Onepoto Landing (boat).
Information, bookings (all accomodation incl. tent spaces must be booked in advance) and maps: DOC (Department of Conservation).