A shoreline search was also carried out on the island.
The Police National Dive Squad, who assisted by the harbourmaster, found Fisher's body at 3.30pm on Saturday, not far from where he went missing.
Queenstown Lakes Mayor Jim Boult earlier said it was terrible when things like this happened in the district.
"Everybody, I'm sure, is thinking about him and his family," Boult said.
Police said in a statement yesterday their thoughts were with his family.
A police communication spokesman said no further comments would be made about the tragedy now the death had been referred to the coroner.
This is the second water-related death involved a Tauranga resident in two weeks.
Gregory Dean Bunyan, 55, was found face down in the sea on the main shipping approach to Tauranga Harbour on December 2 and could not be revived.
Bunyan, who earlier competed in the annual Karewa single hand yacht race, pulled out of the competition to go fishing.
His death, which has also been referred to the coroner, appeared to be "a tragic accident", a senior police officer earlier said.
Stevensons Island:
A 65ha island in the Stevensons Arm section of Lake Wanaka, with two small islets close to the south end of the island.
Stevensons Island Scenic Reserve is protected by the Department of Conservation and is a haven for birdlife with many species of birds difficult to sight elsewhere in New Zealand.
Affords picturesque views over Lake Wanaka with an awe inspiring mountain backdrop.
