Organisers hope to have 2,500 people hooping simultaneously in one single venue to break the current record of 2,290 people, set in Taiwan in 2000.
The bid is the brainchild of local hula instructor and performer Amanda Morris, who also hopes to raise at least £100,000 for the Colchester SOS bus.
The record requires each person to hula continuously for two minutes.
The day-long event will involve a full build-up of training and practice before the record attempt takes place in the afternoon.
"I think it could be a world record in itself, for the biggest class ever, because I've got to teach 2,500 people how to hoop," the event organiser, Amanda Morris of HoopaHula, told BBC Essex.
"Once I've taught everybody they'll be a free practice session and for those who are struggling I'm going to do an intensive clinic with them."
She added: "We'll start in earnest in the afternoon and go on for upto five hours.