2005 – 2007: Player – Coach
Serevi started the year by leading the Lomaiviti Barbarians in the Pacific 7′s in Auckland, New Zealand. Serevi returned to Fiji (from his club Staines in England) in February that year in an attempt to play for Fiji in the 2005 Rugby World Cup Sevens. On returning to Fiji, Serevi said “My goal is to go to the World Cup”. After being selected by coach Wayne Pivac for the Fiji squad, Serevi was named as captain.

Led by Serevi – Fiji qualified for the quarter-finals of the Sevens World Cup at Hong Kong with pool victories over Australia, Canada, Hong Kong, Japan and Portugal. After the pool matches coach Wayne Pivac said of Serevi; “Waisale is the eyes for the other guys” and “He brings the others into the game and puts players into gaps.” After scoring the match winning try in sudden death against England in their semi-final, Serevi lead Fiji to World Cup glory over New Zealand in the final. He finished the tournament as the World Cup’s all time leading points scorer and goal scorer, and the second highest World Cup try scorer of all time.

Serevi was appointed as Wayne Pivac’s successor as Fiji Sevens coach on 30 March. Soon after he returned to his village in Qarani to show its people the Melrose Cup.

Serevi’s first tournament as Fiji’s coach was the Singapore leg of the IRB Sevens Series; Fiji was defeated by England in their semi-final.The last two legs of the 2004/2005 IRB Sevens Series were played in London and Paris. There Serevi coached Fiji to the Plate victory, and a final loss respectively. His first major trophy as coach came when Fiji won gold in the 2005 World Games in Germany.

For the entire 2005/2006 IRB Sevens Series Serevi was Fiji’s player-coach (his assistant coach was Jo Savou). Fiji won the George leg in South Africa, the Wellington leg in New Zealand, the Singapore leg, and the London leg in England. The team also made the final of the Dubai, Los Angeles, and Hong Kong legs of the series. Fiji won the Series – becoming the first team other than New Zealand to win the IRB Series.

In Fiji, celebrations of the win included a specially composed song dedicated to Serevi named Na Noda Laione.
As well as coaching Fiji to the IRB Series win in 2006, Serevi also coached them to bronze at the 2006 Commonwealth Games in Melbourne. Fiji faced England in their semi-final, but Serevi was unable to take the field due to “a technical hitch with the fourth official.”[93] After losing to England, Fiji recovered to defeat Australia 24-17 in the play-off for bronze.

In December 2006 Serevi was offered a coaching position with the Falcons South African club. He was offered several times more to coach in South Africa then he receives from the Fiji Rugby Union. The package was to lure him as a backline coach and player for two years and a coaching position for the next three years. He decided to stay with Fiji Rugby and renewed his contract with the Fiji Rugby Union. In early 2007 the interim Sports Minister Lekh Ram Vayeshnoi appointed Serevi to the board of the interim Sports Council (Fiji).

Serevi coached Fiji to the final of the first Sevens Series leg of 2007 in Wellington, where they lost to Samoa 17-14 in the final. The team then rebounded when they defeated Samoa to win the San Diego leg. Fiji’s next tournament was Hong Kong where Serevi made a world record 18th appearance. Serevi scored the final try as Fiji defeated New Zealand in Hong Kong. They then faced Samoa in the final; Samoa led 27-0 at half time. Although Fiji then scored 22 points in the second half, Samoa won the final 27-22.[98] Fiji did win the following tournament at Adelaide, but only after a converted try by Serevi forcing extra time in their quarter final with South Africa.

Serevi then coached Fiji to the final of the London leg, where they were defeated by New Zealand. The final leg of the 2006/2007 Series was in Edinburgh. Fiji needed to qualify for the semi-finals to guarantee they would win the series. They qualified top of pool A and faced Wales in their quarter-final. Wales defeated Fiji in 21-14 in a major unpset.   “Wales kept the ball well against us, and they scored tries.  They deserved to win,” Serevi said of the loss. New Zealand then won the tournament to win the series with 130 points to Fiji’s 128.

On 6th July 2007, Serevi announced his resignation as coach of the national sevens team.

2007–Present: Coach
After several months of playing local games, the Chinese Taipei Rugby Union signed Serevi as a coach of their national Sevens squad. He reported for duties in March 2008. His first assignment for the team was the 2008 IRB Hong Kong Sevens, where he has often wanted to play one last time before retiring. Serevi also took time to participate in the Yokohama Country and Athletic Club in Japan, on April 5-6, 2008, where his Yokohama squad won in the finals, 57-14.

While working for Taipei, the Fiji Sun later reported that clubs in France, England, and Wales appointed him as their agent for Pacific Islander players.

On July 24, 2008, the Fiji Rugby Union announced the return of Serevi as Fiji’s coach for the 2008-2009 IRB World Sevens Series and the Rugby Sevens World Cup in Dubai.  At the time of the announcement, Serevi was in England to receive an honorary sports degree from Leeds Metropolitan University.  However, Fiji Rugby Union chairman Keni Dakuidreketi said Serevi agreed to take up the position as a coach only. He also denied that Serevi’s selection was a result of the public clamor after Jo Savou’s performance in the 2007-2008 World Sevens Series.