A concrete cap covering the hole had eroded and was heavily damaged, he said.
A St John Ambulance spokeswoman said the woman was left with moderate injuries.
St John Ambulance was alerted at 8.20am.
Mr Page said the woman seemed to have been doing okay while firefighters were rescuing her, wearing a fireman's helmet and jacket.
"She was good," he said.
The woman was taken away in a St John Ambulance about 9.45am. Firefighters were leaving the scene at the same time.
She has been described as being an energetic woman, aged in her late 40s to 50s.
Mr Page said the council would be getting in touch with the owner of the commercial buildings.
"We were called to help because they thought it was a council manhole," Mr Page said.
He said although the soak hole was not council-owned, staff still put a fence up to make people aware of the danger.
"We just want to do our best."
One woman who worked in the area but did not want to be named said the hole had appeared after heavy rain at the weekend.
Earlier, at least two fire crews were at the scene, a Mount Maunganui fire station spokesman said.
A fire service special purpose unit had also been dispatched.