Two of the men were picked up from the water by the coast guard, while the third waited on rocks and was rescued by a surf lifesaving IRB.
Herald reader Tim Hunt watched the event unfold from afar and took a series of photos showing the boat heading towards the waves, being tipped over, the men floating in the water and finally being rescued. A rescue helicopter was also hovering over.
Mr Hunt said it must have been scary for the men.
Waikato District Command Centre senior sergeant Robbie Hermann confirmed the occupants were rescued within about 15 minutes of being thrown into the water.
"None of them were wearing lifejackets but luckily all three have been rescued."