[1]: 70  The lake's maximum height is now regulated to 353.9 m (1,161 ft) by adjusting a valve in the Waitangi Stream Drain.

Some of the frontage is still in private hands, but the greater part of the basin in which the lake lies has now become residential property.

The route from Ohinemutu to Tarawera was a track which skirted the shore of Ōkāreka and reached the large lake, near the mission station called Galilei.

The lake is really an extremely pretty sight, the shores being lofty and wooded, with the exception of a valley at each end, where the roads run.

Its vent consists of an underground stream, which is hidden for about half a mile, and then makes its appearance, looking like a fountain, gushing through a heap of rocks and square stones of a basaltic formation, whence it makes its way in a small stream to Tarawera, the level of which is about sixty feet lower than that of Okareka, and into which the water falls down a declivity of twenty feet, forming a beautiful cascade, surrounded and overshadowed by a clump of karaka and other evergreen trees.

"Grey is also presumed to have introduced Dama Wallaby to the area around Ōkāreka, where they presently still pose a problem.

Lake Ōkāreka has reasonably clear, clean water and is used extensively for recreation such as boating, swimming and fishing.

This is a long-term plan to improve the water quality of the lake, through changes like sewage reticulation, in-lake chemical treatment and farm nutrient management.

The trophic level index (TLI) is an overall indication of lake health based on a number of different criteria, values represent a three-yearly average.

[1]: 5 The township on the shores of Lake Ōkareka is described by Statistics New Zealand as a rural settlement, and covers 0.82 km2 (0.32 sq mi).