Will Cylone Hola hit NZ? Dan Corbett has the latest as the storm approaches Category 5

The latest update from TVNZ meteorologist Dan Corbett shows there is a chance the upper North Island will be affected by Cyclone Hola this weekend.

The TVNZ weatherman tracks the cyclone currently well north of the country in the Pacific Ocean. Source: 1 NEWS

The powerful storm set to become a Category 5 cyclone in the next 12 hours.

Corbett says the cyclone is becoming a "really nasty thing" as it gains strength near New Caledonia.

"It's currently Category 4 looking to become Category 5 in the next 12 hours.

"The storm will stay just to the north of New Caledonia as it becomes a Category 5 tomorrow, affecting the island with strong winds," Corbett says.

From there the cyclone will track into southern waters and could be just north of New Zealand by late Sunday night.

The cooler waters will weaken the cyclone, but if it stays on the current path it is set to affect the upper North Island from late Sunday into Monday.

The next 24 hours will give a clearer picture as to exactly where Cyclone Hola is tracking Corbett says.