Proceeds from entry will go toward the Lions club after the event's bills are paid.
"There's no doubt that we want this to be an annual event if it goes as well as what we think it will," Mr Harrison said.
"On the whole, everything has come together pretty well.
"It will be a long learning curve for everyone this year and while it should be a good fundraiser, I think our main aim is to break even for this year and hopefully do a little bit better next year."
Organisers have enlisted a professional fireworks display artist who previously managed shows for the St Mary's Primary School shows. Pony rides, bouncy castles, amusement rides, food stalls and live music will also be on offer.
"We want this to be a really fun family day out," Mr Harrison said.
He said there would be a strict ban on alcohol and personal fireworks.
Councillor Bill Grainger, who represents Welcome Bay, said previous community days held at Tye Park had been successful and the area was "a beautiful place".
"I think this is awesome. I just hope that it gets good weather," he said.
"I'm looking forward to it, I'll be there and I hope the community will get involved too."
Welcome Bay Community Centre manager Anna Larsen could not be reached yesterday but previously said: "It is going to be great".
The Baypark Family Speedway Fireworks Extravaganza will also offer spectacular skies when it is held on Saturday, November 4. As will St Mary's School Taylor Bros Fireworks on the same Saturday.
What you need to know
What:
Tye Park Fireworks Extravaganza
Where:
Tye Park, Welcome Bay
When:
November 3. The event will run from 4pm to 9.30pm. Fireworks are expected to be let off from 8.30pm to 9pm.
Cost:
Gold coin donation
What not to bring:
Personal fireworks, alcohol, dogs
What if it rains?
The event's postponement date is November 5.
