They were beaten 3-2 by North Harbour at the National Hockey Championships in Palmerston North yesterday.
The back-to-back champions needed to win by two goals to advance to the final.
North Harbour have been one of the form teams in the men’s competition but Otago pushed hard for the win.
The captain Jordan Ward converted two penalty corners — the first in the 12th minute and the other just before halftime.
Both goals were in response to one from Harbour.
Callum Dempster scored in the 10th minute and Robbie Capizzi got on the scoresheet midway through the second quarter.
Dempster scored the winner in the last minute. But by then Otago had pulled their goalie and had gone in search of the goals they needed.
Otago will meet Waikato in the playoff for third today.
Otago player-coach Blair Tarrant was disappointed they had fallen short, but he was "really proud of the guys’ effort in the last two matches against the two top teams".
"Getting third place is our goal now. But also it is about us learning from this experience.
"There are guys who have not played at this level before and they got that opportunity to play what was effectively a semifinal at a national tournament."
The team would be better next year for the experience, Tarrant added.
He enjoyed his first stint as a coach at this level but said it was too early to say whether he would be back next season in a similar role.
The Ward brothers Jordan, Finn and Patrick all had solid tournaments. Jordan’s drag-flicking was on point.
"Felix McIntosh was, I think, one of the best keepers at the tournament. And Oliver Battrick went really well up front and he’s only 18."
Otago women are through to the final of the bottom four.
They drew 1-1 with Wellington but won the shootout 2-0 and will play Hawke’s Bay in the final today.
The sides met earlier in the tournament. The game was drawn 0-0 but Hawke’s Bay won the shootout 3-2.
