Having already extended the deadline by more than a month for bids to take over the licence, NZR announced on Wednesday it had made the call to end the process, with 10 teams to line up next year.
A joint bid by the Samoan and Tongan governments had been the front-runner but ran out of time to secure the necessary money.
NZR chief financial officer Chris Kinraid said there were four interested parties but none was able to provide credible and sustainable long-term funding, with about $A20 million required.
"With our committed time-frames with a hard stop required as of today to launch the competition and stage the competition for next year, no confirmed capital has arrived at this stage," Kinraid said.
"So we're left in no real position other than to announce that there will be no continuation of the licence for Moana Pasifika for the remainder for 2027."
Moana were placed into liquidation in May after their owner, the Pasifika Medical Association, said it could no longer fund the side.
Liquidators said the club owed $8.2 million, with a sale process failing in April and NZR stepping in to assist the club and players through to the end of July.
Late in 2025 NZR provided financial support and oversaw the restructuring of the Hurricanes, who were facing operating losses of up to $2 million.
But Kinraid said they didn't have an "open cheque-book" to fund a private enterprise.
Kinraid said they hadn't shut the door on Moana Pasifika returning at some point and hoped, with more time, a team in the region could be reborn.
"We have a long-term commitment to Pasifika rugby and to a team and we remain completely open to potential or future bids going forward beyond '27,'' he said.
"I can't put a time-frame on it ... we want a strong Pacific connection and long-term viable team based in the Pacific, creating talent pathways and economic value in the Pacific. "
Pasifika played their first competition clash in 2022 and were designed to represent Samoa, Tonga and the Cook Islands, although plans to base the club in Samoa never eventuated and they only played in Tonga once across five seasons.
Instead, they played their games in Auckland and struggled to secure commercial or public interest.
All Blacks skipper Ardie Savea was set to rejoin Moana after a stint in Japan, but will now sign with another New Zealand franchise of his choice.
Former Wallabies skipper Allan Alaalatoa, who has Samoan heritage, said it was disappointing for Pasifika youngsters.
"Having Moana there gave them that pathway ... it's tough, because now there's no pathway for them to potentially play Super rugby," he said from Wallabies camp in Sydney.
"Hopefully we do see Moana again, because when you think about the kids back home in the islands who love rugby and want to be professional rugby players, it hurts for them because now they've got limited opportunities."
