There was no one in the car but as the officers examined the vehicle a woman arrived and claimed to have been driving.
A 29-year-old female will appear in Kaitaia District Court on a charge of dangerous driving. She was also forbidden to drive as her licence had expired.
Mr Fagan said it was one of the highest speeds police in Northland had clocked and such speeds were "ticking time bombs" with the potential to obliterate innocent drivers.
"Those sorts of speeds are ridiculous. No matter how good you are at driving you would never be able to react to something happening in front of you.
"The risk for everyone on the roads goes up exponentially at these speeds," Mr Fagan said.
The Far North incident comes on the same day police released national statistics showing April was the worst in four years as road deaths reached triple figures.
Nationally this year there have been 102 fatalities, including 38 deaths involving speeding drivers with speed and alcohol together accounting for another 48 deaths.
It comes only days after police stopped another driver after he was recorded at 156km/h near Waipu, while passing three other vehicles.
National Assistant Commissioner road policing Dave Cliff said it was frustrating it was still the basics - drinking and driving, going too fast for the conditions and not wearing a seatbelt, or a combination of all three, that was needlessly killing large numbers of New Zealanders on the nation's roads every week.
"While the vast majority of road users are doing things right, some are still making all the wrong decisions, with enormous cost to themselves, their families and other innocent road users," Mr Cliff said.
"At the current rate, at least another 200 people will die and another 1900 will be hospitalised for more than a day by the time we reach the end of the year unless all of us do our part, whether as drivers, passengers, mates or family."
Mr Cliff said preliminary reports from police into the 96 fatalities that occurred up to April 30 showed more than a quarter involved an alcohol-affected driver, more than a third involved a speeding driver, and half of all the deaths involved both factors.
In the last five years in Northland there have been 29 deaths and 149 serious injury accidents due to speed.