The phyllosoma (Greek for "leaf-like") larvae spend between 9 months to 2 years in oceanic waters before metamorphosing to the post larval stage, known as the puerulus, which then swims towards the coast to settle.

[10] The National Institute of Water and Atmospheric Research (NIWA) has reared individuals from egg to adult, showing that it is possible to grow this species in captivity, although it takes between 200 and 400 days to reach maturity.

An aquaculture of this species would serve to bulk up the wild catch and add value with high quality grown lobsters.

A study has shown that mussels provide the best food along with a carbohydrate source in the form of agar, allowing faster grow rates in the lobster.

In Vietnam sea cages are used to grow large amounts of Panulirus ornatus (ornate spiny lobster) in excess of 1,500 t valued at US$90 million.

The sites for lobster farms should be in shallow water (not exceeding 20 m) and sheltered from currents and swell as well as potential strong winds.

Due to the time it takes larva to develop (up to two years) the most cost-effective method of lobster aquaculture is to harvest wild pueruli.

This would allow a faster grow time to adults as the caught juvenile will have already had months of growth before being put in cages for aquaculture.

[18] The maximum sustainable yield of this seed stock is unknown and research will have to be carried out to determine this before an industry can be founded.

New Zealand baited pot wild lobsters earn approximately $180 million per annum which is limited by the Quota Management System to a total allowable commercial catch (TACC) of 2,981 metric tonnes.