Last year's results, released by the Qualifications Authority, show the school did not meet the national average for pupils of decile 10 schools passing NCEA with merit or excellence in any of the three levels.
It had no excellence passes at Level 2 and 3. It bettered the decile 10 national average in the pass category of Levels 1 and 2, and fared better in merit passes when compared with the overall national average.
Principal Lyn Cooper said she was "really pleased" with the school's progress.
Its results were improving every year.
"Our analysis of the data is very different to the authority's," she said.
She was disappointed the school's results were compared with other decile 10 schools. Decile ratings should be "divorced" from comparing educational progress, she said.
"The majority of decile 10 schools are private or integrated schools where parents pay between $11,000 and $16,000 per year."
Decile ratings were initially a way of deciding funding for state schools with the belief the wealthier an area, the less need to fund a school as the community would make up any shortfall, she said. However, at Wakatipu High School, 38% of last year's course, material and camp fees and 45% of school donations remained unpaid.
Some Wakatipu parents could not afford to pay fees and donations.
The shortfall had to be met by the school's limited operations grant, which was to pay for power and resources.
Ms Cooper said Wakatipu High School was one of only a few decile 10 state schools in New Zealand.
"The highly mobile, transient and international community we cater for . . . does not fit the profile of other decile 10 schools."
