Many were taking no risks, though, and had plans to move stock off the floor last night.
The lake had reached 279.19m above sea level by 3pm yesterday, just 20cm below the first flood alert level of 279.4m.
Lakeland Adventures shifted kayaks and other equipment from under the Log Cabin yesterday morning as waves began to lap at the base of the building. It is the only building on the lakefront and will be the first to feel the effects of any flooding.
Several Ardmore St business owners said Wanaka Community Board chairman and civil defence co-ordinator Lyal Cocks had given them an "unofficial" warning the first flood alert level had nearly been reached.
They were optimistic because the colder temperature was turning rain to snow above 1500m and slowing down the run-off into the rivers and lake.
There was some confidence that clearing weather yesterday afternoon should mean the lake would not cross Ardmore St into the central business district within the next 24 hours. With more clear weather forecast today, some felt the lake would stay on its side of the road.
However, they were aware more rain has been forecast for Monday.
Chapter 5 fashion store owner Claudia McAulay was one of several Pembroke Mall operators who put stock up on Thursday night and planned to do it again last night. She did not begrudge the extra time taken to move stock down in the morning.
"Last night, I went to bed knowing I had done the best I could do... You are not lying in bed listening to the pouring rain thinking 'Why didn't I do it?"' she said.
Noel Williams of Ray White Real Estate said he had seen the lake cross Ardmore St three times in the 1990s. Water came through the door in 1999.
It was now too expensive to take out flood damage insurance, so he had done work to protect his business, including shifting utilities cables from floor level to half-way up the walls.
While he was keeping an eye on the lake, he was not particularly worried, he said.
Mr Cocks said, when contacted at 5pm, no flood alert had been given. He would monitor the situation overnight and again first thing today.
• Lake Hawea was sitting at 345.03m yesterday, just 1m under its maximum level defined by its statutory management regime. The lake is controlled by Contact Energy for its electricity-generating dams on the Clutha River. Water must be released once the maximum is exceeded.
Contact Energy generation manager Graham Quinn said yesterday there was capacity to release more water at the Roxburgh dam, where the flow was at 1406cumecs yesterday.
The flow at the dam was 1900cumecs in May last year, he said.
