The franchise, which joined the remodelled league alongside Fijian Drua in 2022, confirmed on Wednesday that the "financial, operational and strategic realities" meant ownership could not commit beyond 2026.
Unless new owners step forward to take up the estimated $7 million annual operating costs, Super Rugby will become a 10-team competition next season.
The tournament currently has 11 teams after the 2024 dissolution of the Melbourne Rebels, also for financial reasons.
"This is one of the hardest decisions we have ever made. We are immensely proud of our players, staff and the community who have supported our team over the years," chairman Kiki Maoate said.
Maoate said the club's commitment now "is to ensure a smooth transition for everyone affected and to celebrate our legacy by finishing the season strong".
Over the past four seasons they have finished 12th, 12th, 11th and seventh and currently sit last with a 1-7 record.
All Blacks star Ardie Savea was a standout last season but had left for Japan on a sabbatical and was due to return to Pasifika in 2027.
Head coach, former All Blacks captain Tana Umaga, was already set to depart and join the Test side as Dave Rennie's assistant.
While the Drua have cemented various home ground venues as strongholds, the Auckland-based Pasifika have been unable to deliver on their ambition to be based in Samoa and also play regularly in Tonga.
Instead they have struggled to attract the top Pasifika talent and played in near-empty venues in Auckland, where the Blues are the dominant rugby force.
"Across our rugby, pathways and community programs, we have been able to support a growing hub of Pacific talent across multiple sporting codes, both locally and in the Pacific region," Maoate said.
"This is something we are extremely proud of and will continue to support and advocate for as best we can."
With AP
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