Funds raised to save Larry the lobster

South Australia's dilapidated giant lobster Larry may have won a reprieve with a campaign to raise $30,000 for urgent repairs reaching its goal.

After more than 35 years in Kingston in SA's southeast, 17m-high Larry is structurally unsound with a partially detached leg that swings in the wind.

Frances Curkpatrick, who runs the Humbugz Honey restaurant that owns the popular steel and fibreglass structure, launched a crowdfunding campaign in September after discovering the extent of the damage.

The campaign has reached its target, taking 271 donations from businesses, groups and individuals ranging from $5 to several thousand.

Ms Curkpatrick said she was grateful to everyone who donated.

"No matter the amount you gave we're extremely grateful. Those $5 amounts were very touching to receive as we know many of them were kids," she posted on the funding site.

An engineer's report recently found Larry needed to be substantially rebuilt including a new outer skin, structural repairs and new concrete foot columns.

The full cost of the repairs is likely to run substantially higher than the $30,000 raised, suggesting Larry may not be out of the woods yet.

The Kingston District Council said it was also willing to help pay for Larry's repairs but wanted him moved to the nearby foreshore so he would benefit the whole community.