For almost seven decades, two generations had enjoyed the house, which became a haven for an assortment of family and teenage friends who learned to water ski each summer. They included a future national sevens rugby coach, Gordon (now Sir Gordon) Tietjens, and Brett Marvelly, the Princes Gate Hotel's owner.
Mrs Goodin, who lives at Lake Okareka with her family at another property, said the sale of her parents' home was regrettable because of many wonderful memories.
"We had fabulous childhood growing up on the lake.
"We had a lot of fun every summer, we had the freedom of the lake, just mucking around in boats, fishing or doing crazy things like water skiing at midnight.
"I can't remember how many people learned to ski," she said.
Lake Okareka was regarded as one of the best lakes locally to water ski on because there was always a sheltered side.
Teenage friends would ski during the day, stay on for barbecues, and bunk down in the house overnight.
A keen boat builder, Mr Bannister planted many lawson cypress trees on the property and later milled them for his hobby.
A large kahikatea planted before the Tarawera eruption was on the site when the Bannisters bought the property, Mrs Goodin said.
The tree inexplicably died several years ago and was removed.
"It was heartache to remove it."
A large area in front of the house running towards the lakefront was partly reclaimed land which was to be used to build a tennis court.
The shoreline was surrounded by wetland which attracted rare and endangered birdlife for nesting, including the bittern, and the spotless crake, endemic to the area.
"We used to see the bittern stalking through the rushes, and hear this booming mating call in spring."
Mrs Goodin said she hoped whoever bought the house would understand the role of being a kaitiaki of the lakefront.
"Anyone who lives on a lakefront property should endeavour to safeguard the ecology of the area as much as they can."
Bayleys agent Jenny Donne said the property would appeal as a holiday home or permanent residence.
The asking price for the property is $900,000.