The Greymouth Motorcycle Street Race was first held on Labour Weekend 1989 and was part of Octoberfest initiated by the Greymouth Businessman's Association and service groups. It's aim was to encourage visitors back into the town after the devastating floods which hit Greymouth in May and September of 1988.

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Throughout its history, the event has relied on the help of many local clubs to run, with proceeds given to various charities. This philosophy has not changed; proceeds now go to all the local clubs and community groups that volunteer their services every Labour Weekend to make the Greymouth Motorcycle Street Race a successful annual event. Around 100 people get up at 5AM and work hard on behalf of their club or chosen charity, with over $13,000 returned to the community last year.