Sam Dickson had set up Jack Goodhue for the first New Zealand try, and then they set about reducing the 35-5 deficit. Two tries to Wellington speedster Ambrose Curtis gave a brief flicker of hope but it was too little, too late for the outgunned New Zealanders.
Fiji were presented the Cup by former sevens legend Waisale Serevi, now domiciled in the USA.
New Zealand will now have to regroup for the Hong Kong and Japan tournament cluster at the end of next month. South Africa still lead the World Series standings on 93 points, hotly pursued by New Zealand on 88 and Fiji on 86.
Earlier today, in the Cup semifinals, New Zealand beat hosts USA 26-12, while Fiji edged South Africa 24-19.
Fiji 35 (Jerry Tuwai 2, Semi Kunatani 2, Savenaca Rawaca tries; Vatemo Ravouvou 5 con) All Blacks Sevens 19 (Ambrose Curtis 2, Jack Goodhue tries; Beaudine Waaka 2 con) HT: 21-0