Sand bags are being placed around businesses in Wanaka as the rain continues to pour.

Queenstown police are calling out the "stupidity" of two trampers who had to be rescued from the Remarkables mountain range at midnight while the area prepares for flooding.

Heavy rain warnings have been in place for the area and many businesses in Queenstown and Wanaka are bracing for flooding.

Record amounts of rain had fallen in recent days and heavy rain warnings had been issued and were expected to continue until Sunday.

Supplied The men planned to walk from Wye Creek to the Remarkables ski field.

Acting Senior Sergeant Steve Watt said "the stupidity" of the men, aged in their 20s, put the lives of their rescuers at risk.

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"Given the current weather situation it's a walk that should never have been attempted by such ill-prepared trampers."

Jo McKenzie-McLean/Stuff A bridge leading to a lakefront playground in Wanaka is under water as lake levels rise.

The men, one from Germany and one living in Queenstown, set off on Thursday afternoon to walk up the Wye Creek Valley with the intention of exiting over the Wye Saddle to the base of the Remarkables ski field.

Watt said one intended to paraglide back down to Wye Creek.

One man was wearing shorts and canvas shoes and they were both ill-equipped for the conditions, he said.

YOUNG ADVENTURES Flooding at the shoreline in Wanaka.

They walked past and read a sign that indicated the walk would take between six and eight hours but decided to press on.

Late at night and in snow they called the parents of one of the men but then lost coverage.

About midnight they sent a text message to police.

LIZ CARLSON The Wanaka tree has been partially submerged as lake levels rise.

Seven people in the Alpine Cliff Rescue and Search and Rescue teams searched for the men who were found with night vision goggles.

They were cold and wet, unhurt but very grateful, a search and rescue report said.

It said the men were not equipped for the weather, terrain or any possible emergency.

The weather forecast for the day predicted 75kmh winds at 2000m with snow flurries.

There was existing and fresh snow on the ground and widespread coverage of heavy rain predicted for the region.

"Never be afraid to turn around after reaching a sign saying six to eight hours to go when you think it is only a four hour trip and daylight and weather is not on your side," the report said.