"It could be a double whammy."
Mr Yule said he had no comment while the selection decisions were under way.
"At the end of that process if I am successful there will be conversations about how that byelection process will go but other than that I am not saying anything."
The successful Tukituki candidate will be announced on Tuesday next week.
Hawke's Bay Today understands there are three contenders for the position - Mr Yule, Hastings councillor Adrienne Pierce and Hastings resident and former Air Force pilot David Elliott.
National's Tukituki electorate chairman Kevin Trerise said he could not confirm these were the candidates but said that all those running were feeling positive and confident about their chances.
"I understand they are all feeling assured about their own individual case, and from the conversations I have had none of them are resting on their laurels so it will be an interesting result."
Three days later, on February 24, nominations close for the Napier National Party electorate candidates, vying to fill the seat left vacant by departing candidate Wayne Walford.
Napier electorate chairman Ian Mayne said he still had no idea who could be in contention.
"That all goes to HQ and is kept secret from me until after that date, but I am waiting with bated breath with only nine days to go before the work really starts," he said.
When the nominations close, 60 delegates would be chosen to consider the prospective candidates, nominated by both Napier and Tukituki electorate party members.
"It's a very democratic process and this is done so we can't stack the books in favour of any one candidate," Mr Mayne said.
"We have got quite a lot of keen people here who want to be delegates and part of choosing who will go up against [Napier Labour MP] Stuart Nash."
For the unsuccessful candidates in line for the Tukituki seat, there was the potential to jump over and put their hands up for the Napier seat.
Mr Mayne said that this happened in the last election when several people who unsuccessfully stood for the Palmerston North candidacy then stood for the Wairarapa electorate.
Even if someone from the South Island decided to have a stab at one of the vacant Hawke's Bay seats, they couldn't be stopped, but would probably be discouraged, he said.
"I don't think the people of Napier would go for that.
"I would be hard pressed to say they [the Tukituki candidates] would do that - they all have close ties with Hastings. The only one who could make a claim on Napier probably would be Lawrence Yule who lives here."
He said, however, that being high-quality, skilled candidates they probably had other options in mind should they not be successful in their bid.