• Daniel Kereopa (New Zealand), a former national surfing champion, "who has dedicated his life to riding all types of waves on a variety of equipment;''
• Danny Ching (USA), a premier paddle sports athlete from Southern California.
The three remaining elite competitors in The Ultimate Waterman competition will be announced in the lead up to the event.
During the event - which will run between March 14 and March 21 - the contestants will fly to surf spots throughout the country to find the best and biggest waves for the surfing events.
Surfing New Zealand executive officer, Greg Townsend, said that while the public participation events will be held on Auckland's Waitemata Harbour, the elite section will be a truly mobile event.
"Coastal locations around the Auckland region and across New Zealand are in line to host disciplines, with final venues selected on the day to ensure that competitors will be competing in the best weather, wind and swell conditions," he said.
Meteorologists and local experts will forecast conditions daily to determine where the best conditions for each discipline are. Competitors and crew will then drive or fly from the event hub at Auckland's Mission Bay to compete at each selected discipline location.
Surfing NZ spokesman Ben Kennings said the right waves could be found anywhere from the Far North to off the Otago coast. At that time of the year there could be cyclone swell on the east coast.
The event involves support from the government, Auckland Tourism, Events & Economic Development (ATEED) and Red Bull.
The drinks maker will make a TV show about the event to be screened around the world.
Townsend said having the best water athletes here was a "significant international coup'' and it was expected to reach 50 million people through social media channels.
The Ultimate Waterman will also include Auckland-based public participation events, where members of the public can take part in stand-up paddleboard and waka-ama events alongside the elite competitors at Takapuna Beach.
ATEED's sponsorship of the contest is for an initial two year period with right of renewal for a further three years. Funding has been allocated from ATEED's Major Events Sponsorship Fund with $225,000 allocated for the first year of the event, decreasing to $175,000 in the second year.
The projected GDP impact of The Ultimate Waterman is $463,000 in the first year, rising to $1.06 million in the fifth year, with a total impact of $3.74 million over five years.
ATEED chief executive, Brett O'Riley said the Ultimate Waterman was a new, home-grown event that is unique to New Zealand.
"This event has the potential to generate significant international exposure, with Auckland and New Zealand featuring prominently in online coverage and on television and film screens around the world.