The money raised is distributed throughout the community by the Rotary Rotorua Sunrise Charitable Trust.
Toi Ohomai's primary industries, trades and infrastructure faculty dean Brian Dillon said the team involved with the Charity House project was thrilled with the result.
"We know that this project is much more than just a house. We are incredibly proud of our students and tutors and industry partners who put so much effort into building this house.
"They should be proud of how their work has such a positive impact on our community."
Brian said the team was blown away at the amount of money available this year.
"We're thrilled to be able to assist our community in this way, and particularly at a time when many in our community are struggling."
Rotary Rotorua Sunrise president David Jones said the Charity House project was an exciting and unique community initiative to be a part of.
"We get to work alongside Toi Ohomai students training to become our next generation of tradespeople and entrepreneurs.
"The Charity House project is proudly supported by the business community and has become a winning formula with the house sale proceeds being available to local community groups via grant applications."
Jones said it looked forward to receiving applications for funds over the next three weeks.
Professionals McDowell Real Estate sales manager Kellie Kanara-Batt said the team at Professionals felt privileged to be a partner in the project each year.
"Like everyone else involved, this is a fantastic opportunity to contribute towards the greater good for our community.
"Backing businesses in such an unpredictable environment gives a sense of achievement and a glimmer of hope to some organisations that really need that cash injection right now."
Kanara-Batt encouraged those in need of a cash boost to apply for funding.
"Good deeds with great outcomes enable greater results for Rotorua in general. Being part of this project is such a good feeling to see incredible teamwork produce rewarding benefits for all."
Applications are open for three weeks from today, March 18.
To make an application for funding visit the Rotary Rotorua Sunrise website.