Wanaka is where the south island started to shine. The road leading to this place is not to be missed, and when you get to the town you have have a view of a huge lake waiting for you to kayak and in all directions, there are mountains everywhere. No wonder why this place is consider a ski heaven.
I climbed Mt Iron to get an awesome view of the surroundings on my first day and then I walked around the lake the next day.
If it wasn't close, I would also go and climb Roy's Peak, one of the most stunning view spot in Wanaka where you feel like you are floating atop the mountain range. If you wanna attempt the Roy's peak day hike, don't come to Wanaka in the beginning of November. From the 1st until 11th, the trail is closed. I found that out the hard way. :(