"He is currently undergoing surgery," police said.
Local police, supported by the Armed Offenders Squad and the Eagle helicopter unit earlier spent most of today scouring the area for a "person of interest".
However, Waikato East Area Commander Inspector Dean Anderson said in a statement just before 3pm that police had found the person they were looking for.
"He is now being spoken to by police," Anderson said.
Police are not looking for anyone else in relation to the shooting, he said.
"The victim remains in a serious condition in hospital," he said.
Police earlier said that the shooting was "not gang-related and the individuals were known to each other".
Police are still making inquiries into the shooting and conducting a forensic examination on Waghorn Rd.
Anderson thanked local residents for their help in the matter. However, police still called on anyone with information to report it.
"If anyone in the area notices anything out of the ordinary on their property, including people who are not known to them, gates left open, equipment tampered with or vehicles taken, please call police on 111 and quote event number P050980430," police said.