McKenna was the inaugural Suns coach and has been at the helm since their inception in 2008.
He coached them through the transition years in the TAC Cup (2009) and VFL (2010), and is now into his fourth AFL season.
After watching them gradually improve, McKenna will now get a chance to take the Suns closer to a premiership.
McKenna said it was nice to be staying on for a fifth season when he could start to see the fruit of some hard work.
"It's a nice show of faith by the football club," he said.
"A lot of the hard work's been done and is still being done. It's building all the foundations, mixing the cement, now we're pouring it and it's starting to take shape.
"You want to be around when the walls go up and the roof goes on."
McKenna coached Gold Coast to three wins in its first season, three in its second and eight in its third.
The improvement appears set to continue in 2014 after the Suns upset last season's finalists Richmond in the opening round on Saturday night.
"We've set the foundations and our blokes command a bit of respect now," McKenna said.
"What we expect over the next 18 months is another step forward and we're starting to see signs already."
He said both the players and himself had learnt a lot over their young journey, but there was still a way to go.
"My first five years in this football club have been about education and now we can talk more about structures … we can talk tactics with these fellas," he said.
"The opposition is starting to respect us and it's very exciting."
Twitter: @AFL_mikewhiting
