Inspector Taylor said police worked back against the outgoing tide to West Harbour and found two friends who had been looking for the man, believed to be aged between 20-30 years old.
"A group of mates had been fishing and one of them had decided to go for a swim, got caught up in the tide and got carried a long way, and drowned. It's generally thought that alcohol is the aggravating factor as well.
"The tide rips out there, so he's gone a long way. He hasn't read that situation well at all. It's sad, especially when you hear that alcohol and water, alcohol and swimming. It's just that message.''
Inspector Taylor said the water temperature was about 16 degrees last night.
Police said they were contacting next of kin and would not release the man's name.