Central North Island iwi Ngati Tuwharetoa is buying the Hole in One tourist attraction at Lake Taupo.
The attraction offers punters the chance to hit golf balls out to a floating lake pontoon, and a big cheer goes up for a hole in one about once every two weeks.
There have been 983 recorded in the popular attraction's 24 years of operation.
The Tuwharetoa Maori Trust Board is buying the business through its commercial subsidiary, Taupo Moana Group Holdings and settlement is on October 31.
The purchase price isn't being disclosed.
The business is owned by locals Tiffany and Peter Battell.
Punters pay $1 per ball and receive a free ball every time they hit the pontoon. The current best is 45 hits in a row.
The longest drive recorded is 313m on the fly, and the longest by a New Zealand representative sportsperson is by Piri Weepu with 277m, according to the attraction's website.