We present SN2018kzr, the fastest declining supernova-like transient, second only to the kilonova, AT2017gfo. SN2018kzr is characterized by a peak magnitude of Mr = −17.98, a peak bolometric luminosity of ∼1.4 × 1043 erg s−1, and a rapid decline rate of 0.48 0.03 mag day−1 in the r band. The bolometric luminosity evolves too quickly to be explained by pure 56Ni heating, necessitating the inclusion of an alternative powering source. Incorporating the spin-down of a magnetized neutron star adequately describes the lightcurve and we estimate a small ejecta mass of Mej = 0.10 0.05 M . Our spectral modeling suggests the ejecta is composed of intermediate mass elements including O, Si, and Mg and trace amounts of Fe-peak elements, which disfavors a binary neutron star merger. We discuss three explosion scenarios for SN2018kzr, given the low ejecta mass, intermediate mass element composition, and high likelihood of additional powering-the core collapse of an ultra-stripped progenitor, the accretion induced collapse (AIC) of a white dwarf, and the merger of a white dwarf and neutron star. The requirement for an alternative input energy source favors either the AIC with magnetar powering or a white dwarf-neutron star merger with energy from disk wind shocks.