Squadron Leader Scott McKenzie, based in Ohakea, said the Red Checkers were in Wanaka with a pilot training squad set up in the area.
"We just popped in to say gidday to the camp for this week and we were going to practise and thought what better place than Queenstown."
Approval of the demonstration was granted only at midday yesterday.
Sqn Ldr McKenzie said anyone interested in having a look would be treated to some magnificent displays.
The Red Checkers team has five aircraft, CT-4E Airtrainers, 7.15m long, with a wingspan of 7.92m and a maximum speed of 386kmh.
Sqn Ldr McKenzie said the group would do a fly-by of Queenstown about 6.45pm and begin the display above the Steamer Wharf area a couple of minutes later.
Formation flying would take place down to about 500ft, when the planes were about 6ft apart, with manoeuvres down to 300ft in formation and the planes flying at 100ft when they were "a little bit further apart".
While the display had originally been planned for tomorrow night, Sqn Ldr McKenzie said the weather forecast indicated "beautiful weather" this evening, so the display was moved forward.
For the best view of the action, people were advised to be on the Steamer Wharf, between Earnslaw Park and Lake Wakatipu, he said.