The former Australian cricket captain and playing partner Daniel Popovic produced a combined seven-under-par 65 opening round in the best-ball format on the Millbrook near Queenstown.
Ponting even had a chance for a seventh birdie from just over a metre but picked up after his partner in the pro-am competition, Daniel Popovic, drained his own birdie putt.
Despite Ponting's hot form, he and Popovic found themselves back in the pack in the NZ Open pro-am event with the four joint leaders shooting 12 under.
Ponting has a handicap of plus one but was playing off one after the slope rating adjustment.
Former Australian PGA champion Popovic started the NZ Open with a one-under 71.
"I gave him (Ponting) a bit of stick because he played off the ladies tees. But, in reality, they were only a few metres up from where I was playing, so it was a great effort," Popovic told the Herald Sun.
"He just hits the ball really well - doesn't do too many things wrong out there. He looks like a professional, to be honest.
"In fact, on the range, if you saw him hitting balls, you wouldn't be able to tell the difference from the pros."