The southern end of the lake is close to State Highway 6, while the western side is bordered by Slope Hill.

The local Māori iwi (tribe) of Ngāi Tahu originally named the lake Te Whaka-ata [2] or Te Whaka-ata a Haki-te-kura after an ancestress called Haki-te-kura whose image was said to be reflected in the lake.

Its name gradually changed to Lake Hayes, as its discovery was credited erroneously to Captain "Bully" Hayes, an early local character of the district.

[4] Birdlife that can be seen on the lake include the introduced mallard, feral goose, the native New Zealand scaup, Australasian crested grebe and the black shag.

Exotic fish in the lake that can be taken recreationally include brown trout and perch, while native fish include upland bully, koaro and long-finned eel.