Arguably, the short version of the Wye Creek Track on the side of Lake Wakatipu is one of the best walks in Otago and even New Zealand! There is a long version which starts from the Remarkables Ski Field with a hike from Lake Alta all the way to the valley below these pics. For the full walk, you need to allow a day, plus arrange drop off / pick up.
But there is a spectacular short tramping version. Start from the access point off Kingston Road (easy to miss) and drive as far up the rough 4WD road as you dare! Then follow the (rough tramping) track from the top of the road. It only takes about 30 minutes or so to get to the main viewpoint from the trailhead, but there is a trick: cross the small dam that you will come to after about 20 minutes or so. The trail continues over the dam and then follows a narrow board walk that sits on a water pipe to the south. Don’t follow the Wye Creek route sign, the boardwalk is perfectly secure.
The payoffs include the views from the boardwalk back to the lake and the amazing series of tumbling waterfalls at the end of the boardwalk. You can get an idea of these falls and where they are from the road as you head up.