Police have named the man at the centre of an air and sea search off the Tauranga coast.
He is Te Awamutu farmer Karl Earwaker, 39.
Mr Earwaker's 5.6m fibreglass Sea Nymph, named Optimist, was found empty and capsized about two nautical miles south of Mayor Island on Tuesday. Large-scale searches from air and sea have been carried out but with no success.
Police yesterday described it as a tragic accident. It was not yet known how the boat capsized.
A surface search of the area where the boat was located began again today at first light by police staff and Mr Earwaker's family.