Lakefest is a celebration of Lake Macquarie's aquatic lifestyle and rich maritime history.

The Heaven Can Wait regatta involves sailing yachts, dinghies and skiffs racing around Lake Macquarie for up to 24 hours and raises money for Cancer Council NSW.

Lakefest will include sailing events and water-based sporting and social activities including a Twilight Race, Paddlefest, and Junior Pirate Fun Race.