A hospital spokeswoman said he remained in a critical condition yesterday.
Mr Jarvis' wife, Joanna, said while still "very unwell", he was "making slow progress".
She wanted to thank "friends, family and hospital staff for their support at this very stressful time".
Ramblers Cycling Club chairman Gavin Bush said the club had been inundated with messages of support for Mr Jarvis and his family.
"We're still in a little bit of shock about what's happened to Peter," Mr Bush said.
"Everyone's always waiting for updates on his condition. That accident really shocked everybody."
Hawke's Bay road policing Sergeant Kevin Stewart said the Serious Crash Unit was still investigating the crash, and a cause had not been determined.
Police described Mr Jarvis as a "very experienced" cyclist who was familiar with the road where the race took place.
The high-speed, "dangerous" corner was located at the bottom of a steep downhill stretch of road.
However, racers were familiar with it because it was part of their regular race route.
Mr Jarvis was wearing a helmet, which was badly damaged in the crash.
Mr Bush said the cycling club would probably continue to use the race route.