Mr Kernaghan said yesterday he expected more than $200,000 would have been raised, after 102 teams took part.
A jubilant crowd packed into Logan Park at noon at the end of the relay, in which teams of 10 or more completed a relay-style walk or run over a 24-hour period.
All money raised will go to the cancer society.
Mr Kernaghan said the event had been "fantastic".
"The generosity and compassion has been overwhelming. It's been a fantastic 24 hours."