Fiji won a thrilling final at the Singapore rugby Sevens, scoring a long-range try after the full-time siren to beat Australia 28-22.
"I'm speechless. Australia are a very good side and took us to the wire. We gave everything for this final," said Fiji captain Jerry Tuwai.
"Winning this tournament will boost our morale going to London and Paris."
New Zealand came fifth after losing to Australia in pool play and Fiji in the quarter-finals, before beating Kenya and Samoa in the fifth place playoffs.
Despite the low finish All Black sevens coach Clarke Laidlaw was pleased with the efforts of the injury hit Commonwealth Games champions.
"The result against Fiji was certainly disappointing but (I'm) massively proud of the efforts the players showed through a hugely tough two days of the tournament," said Laidlaw.
"To finish the tournament with just ten players and play two games with just ten players I am extremely proud."
It's Fiji's third title win in a row following victories in Vancouver and Hong Kong and they also went ahead of South Africa to the top of the world series standings, with New Zealand third.
There are two tournaments remaining, with the next tournament in London on June 2nd and 3rd.