Wangi Sailing Club will host its fifth annual Cruise For Cancer and intends to add more wind to the $20,000 it has raised for the Australian Cancer Council in the last four years.

"This year we have decided to split all the monies raised between the McGrath Foundation and the Prostate Cancer Foundation of Australia," member and one of the event organisers, Jody Shiels, said.

A traditional champagne breakfast at 9.30am will start the event with various fund raising activities in the morning including raffles, celebrity skipper auctions hosted by Nathan and Haylee Outteridge, Ian Jensen, Lauren Jefferies and a host of local identities.

"On water activities will start around 12:30pm with a cruise for yachts around a designated course and this year we are encouraging power boats to participate with a treasure hunt of the lake that will see participating boats finding clues of certain landmarks," Ms Shiels said.

"We have also organised a fully supervised kids bingo for kids who do not want to go out on the water with mum and dad. We'll entertain the kids with a pizza for lunch, games and yummy prizes."

After the fun of the cruises, all crews will return to the Wangi RSL were the winners will be announced.

One of the many prizes is a weekend for two at Hamilton Island with flights plus a $200 voucher to spend on the island.

Another unusual prize is a backyard blitz sponsored by Corletts Home & Timber Hardware at Morisset.