Rock lobster fishermen on the North Island's east coast are taking similar action, reducing the annual catch entitlement by 25 percent - from 200 to 150 tonnes - for the second year running.
The divers on the Chathams are seeing some signs of depletion in some areas and are keen to address that, according to Paua Industry Council chief executive Jeremy Cooper.
"They have been talking to the Ministry for Primary Industries, which is doing a stock status assessment," he said.
"There will be a catch reduction and the divers support that, as do iwi and the community.
"We all want a multi-generational fishery and are prepared to act conservatively to ensure that."
Cooper and PIC chair Storm Stanley were in the Chathams this week to discuss the long-term paua fishery sustainability.
About a third of New Zealand's total paua catch of around 900 tonnes comes off the Chathams.
Twenty percent of the Chathams annual catch entitlement has already been voluntarily shelved this year, equivalent to about 200,000 paua.
Managing the Chathams fishery is relatively straightforward, Cooper said.
There is no virtually no recreational fishery and environmental issues on the mainland impacting on the coastal environment such as sedimentation, dairying and forestry are not factors.
"Community, iwi and the fishing community are all intertwined and have a common interest in preserving stocks," Cooper said.
"If we take some precautionary measures now the paua fishery will be as good as it ever was in five years.
"You sometimes hear the anti-fishing lobby claiming quota holders across all fisheries want to push the limits and are only concerned about maximising profit. That is simply wrong and our fishers are demonstrating that."
Paua returns about $50 million in exports each year, with sales mainly to China, Singapore and Korea.
Rock lobster fisherman are taking a similar conservative approach on the east coast from Te Arai to East Cape.
"We don't need to be told how to run the business in which we are so heavily invested," fisherman Butch Waterhouse said.
"Fishing is not a lot different to farming. Both are at the mercy of nature.
"The CRA 2 industry has again been guided by good science in seeking a more conservative catch limit. We want it better than okay so we have invested in enhancing stock abundance, giving nature a boost."
Unlike the isolated Chathams, the North Island rock lobster fishery is subject to considerable pressure from other users.
Waterhouse called for the recreational sector to step up too.
"Absolutely nothing has been offered by any recreational group, despite its effort and catch increasing every season."
A black market is also active with MPI making a nominal allowance of 60 tonnes, an admission of failure if ever there was one.
Waterhouse said his sector should be applauded for their action to conserve the resource.