Mr Smith said the award was absolutely a testament to his team.
"The minute they engage the touchpoints with customers, they represent what the holiday park is all about," he said.
The park, a former Tourism New Zealand Industry award winner, was a finalist in six of the 12 categories, winning three of them - Community Service, Customer Service and Tourism. It has also been a finalist in the AA Spirit of Hospitality awards.
Waihi Beach Holiday Park was closely followed by Te Puna-based Kiwifruitz, managed by Grant Jeffrey. The exporter, established in 2000, takes reject kiwifruit and turns them into tasty purees for fruit juices, salad dressings, ice cream and yoghurt.
The puree is blast frozen and 95 per cent is exported to Korea, Thailand, Taiwan, Hong Kong, Japan, Malaysia, United States, Britain, Germany and Australia.
Kiwifruitz was a finalist in five categories and won two of them, Innovation and Food, and ended runner-up in the overall Business of the Year.
Leading Tauranga businessman Richard Cashmore, who last year suffered a serious spinal injury in the surf at Coolangatta on the Gold Coast, was awarded the Excellence in Business Leadership.
He formed Realty Services which owns the local Bayleys and Eves Realty franchises and Rothbury Financial Services, and runs a staff of about 100.
Mr Cashmore is a board director for Western Bay economic development agency Priority One, and Acorn Foundation and he pulled together the deal to build the $30 million landmark business centre on the corner of Cameron Rd and Elizabeth St.
Mr Cashmore was escorted on to the stage and as he headed for the podium, he promptly threw away his walking stick, saying: "This is a pretty emotional time for me."
He said: "As most of you are aware, 12 months ago I was dragged from the water, paralysed and I never thought I would walk again.
"I can stand here tonight and win an award.
"I cannot tell you how lucky I am, to be a member of this community and being a New Zealander.
"Why do you have to break your neck or suffer so seriously to appreciate the wonderful environment we have and the people I work with."
Mr and Mrs Smith weren't standing still when they took over the rundown camping ground at Waihi Beach in 1995. With tents and shanties spread around the 2.5 hectare campsite on the beachfront, it was first used in the late 1890s by the gold miners working in nearby Karangahake Gorge.
Now, Waihi Beach Top 10 Holiday Park is a premium resort offering a wide range of accommodation from camping and motor home sites to kitchen cabins and deluxe motel units.
Its four beachside motel units were built as part of TVNZ's Jack of All Trades series in 2009.
The Smiths developed a heated swimming pool, spa, gym and sauna complex, an under-5s family room, and children's club and holiday programme.
Mr Smith told the Bay of Plenty Times that holiday parks were no longer just camping grounds.
"First time around many overseas visitors are campervanning around New Zealand. Once they discover that holiday parks have a lot of fixed accommodation, they decide to come back in a car."
Waihi Beach Holiday Park - it still has the Kiwi holiday atmosphere - has lately experienced nearly 20 per cent year-on-year growth and international visitors have grown from 3 per cent to 30 per cent of guests.
Community-wise, Mr Smith - a director of Tourism Bay of Plenty - is Waihi Beach's chief fire officer and becomes involved with training and management.
The Smiths bought $5000 worth of computers for Waihi Beach School in 2007 and have hosted pupils in the resort for school-related activities. They also give Waihi Swimming Club use of the resort pool for one day per year.
Results:
Westpac Business the Year winner: Waihi Beach Holiday Park; finalist Kiwifruitz, Te Puna.
Zespri Excellence in Business Leadership: Richard Cashmore, managing director of Realty Services.
Beca Community Service: Winner, Waihi Beach Holiday Park (Ian and Vicky Smith); finalists Kiwifruitz (Grant Jeffrey) and Pollock & Sons Crane Hire (Rex and Cheryl Pollock).
ACC Workplace Safety: Winner, Bay of Plenty District Health Board (Ted Harper); finalists Pollock & Sons Crane Hire, Complete Safety Management (Phil Sexton), Waihi Beach Holiday Park, Kiwifruitz.
Wave Design Brand, Marketing and Design: Winner GroutPro (Joe Hesmondhalgh); finalists Bella Vista Lodge (Dolly Gray), Waihi Beach Holiday Park, Kiwifruitz.
Results.com Innovation: Winner Kiwifruitz; finalists GroutPro, Waihi Beach Holiday Park.
TrustPower Customer Service: Waihi Beach Holiday Park; finalists Salon One - The Cove (Angela King), GroutPro, Goldfinger (Jill Briscoe).
Bay of Plenty Polytechnic Community Organisation: Winner Acorn Foundation (Nicki Wilkins).
PowerCo Food: Winner Kiwifruitz; finalist Bake Shack (Iain Bent).
United Travel Retail and Service: Winner The Hairdressing Academy & College of Beauty Therapy (Kylie Meehan); finalist Flax Gallery & Gifts (Sharon Blaikie).
Tourism Bay of Plenty Tourism: Winner Waihi Beach Holiday Park.
Cooney Lees Morgan Emerging Business: Winner Salon One - The Cove, finalists Bella Vista Lodge, Pacific Coast Technical Institute (Fiona Morris).
Waikato University Management School Manufacturing/Logistics: Winner Pollock & Sons Crane Hire.
Aurecon Business Growth: Winner GroutPro; finalists RWL Group (Rachel Wilson), Modern Office (Adam Hazlett).