Kaikorai Valley is a long broad valley which runs through the west of the New Zealand city of Dunedin, 5 kilometres (3.1 mi) to the west of the city centre. It is the valley of a small stream, the Kaikorai Stream, which runs from northeast to southwest down the length of the valley.

The Kaikorai Stream is a short river which runs through the city of Dunedin, in New Zealand's South Island. The stream has origins in the northwestern suburbs of Dunedin, flowing southwest towards the Kaikorai Lagoon.