The Glasair III is an all-composite, low-wing monoplane and is the latest variant of a design that had its origins in the 1980s.
More than 2500 kits have been sold and more than 1200 are flying.
The Glasair III, which costs about $66,000, is a greatly improved variant of the earlier Glasair II with its retractable landing gear. It is powered by a 300hp Lycoming engine.
It has two seats side-by-side with dual controls.
The aircraft is manufactured in the US by Stoddard-Hamilton in Virginia, and shipped around the world in kit form.
The Glasair III has a top speed of 467km/h, can fly as slowly as 119km/h and up to an altitude of 7315m. Pilots love the aircraft's performance and it can climb at 800m a minute.
According to Aviation-Saftey.net, there have been 34 crashes involving the Glasair models, none in Australia.
Writing a review in Hot Kits and Homebuilts, pilot Budd Davisson said the Glasair III needed practically no talent to fly adequately.
"I'm no hot-shot, high-performance pilot but the aircraft seemed comfortable to fly from the beginning," he said.
But Mr Davisson noted that the only thing that might surprise a pilot was the way it blasted down the runway on takeoff. He warned that "it is essential that you fly the right numbers on final for landing as it is probably very unforgiving of getting it low and slow".