A 38-year-old man critically shot in Kawerau is in a stable condition while the other 48-year-old remains in critical condition in Waikato Hospital.

The two men were shot at a River Road address about 6.15am on September 13. One suffered a chest wound and the other was shot in the abdomen.

Police have arrested three men and charged them with attempted murder.

They are due to appear in the High Court in Rotorua on October 2.

Police say a 29-year-old was arrested during an armed offenders' squad raid on a property in Kawerau on the Friday afternoon.

His co-accused - a 29 and 52-year-old - handed themselves into Kawerau Police station after the first offender was arrested.

Detective Senior Sergeant Greg Standen says police have recovered one of the weapons believed to have been used in the shooting.

He says police are continuing to investigate the shooting and are still speaking with a number of witnesses.

Anyone with information about the shooting is asked to contact their local police station.

Alternatively, information can be left anonymously via the Crimestoppers 0800 555 111 line