Lake Waikare is a small lake in the eastern Taranaki hill country north east of Waverley. It sits on private property surrounded primarily by pine plantation. However, the western lake margin is adjacent to a large area of native bush, which has been identified with the lake as a Significant Natural Area by the South Taranaki District Council (STRC). There is a diverse range of terrestrial and wetland plant communities surrounding the lake, providing habitat for spotless crake, fernbird and other native birds (STRC).