Mr Eklund skippered the boat from Westport on April 9 and trawled between Ross and Abut Head in South Westland for six days.
He made contact with Talley's Fisheries to ask if he could stay out another day to catch a full load. Talley's said fish must be returned within six days, so he decided to come back to shore.
Lady Anna arrived at the bar to the Grey River around 7am and began crossing the bar around 7.30am.
The tide was low, and a witness who gave evidence to the coroner told how a wave seemed to come out of nowhere and rise up behind the stern of Lady Anna.
The boat rolled on to its side and couldn't be righted due to a shift in the load.
The witness told how he saw the three fishermen on board climb out of the boat and on to the hull.
Mr Carson told the coroner that he and Mr Campbell decided to leave the hull with a life ring, while Mr Eklund, who looked lethargic, decided to stay with the hull
He was washed off by a second wave.
Mr Carson and Mr Campbell made it to shore with the life ring.
A life ring and life vests were thrown to Mr Eklund. However, he didn't reach them and was seen to go under the surface.
A rescuer swam from shore out to Mr Eklund and dragged him back in where CPR began but he could not be resuscitated.
Coroner Crerar summed up his finding by saying there were a number of contributing factors that could have changed the outcome that day.
"If Nicholas Eklund had waited a few hours for a more full tide; if Lady Anna was loaded or configured in a different way; if Nicholas Eklund was wearing a life jacket/PFD or if he had not been smoking cannabis, his death may not have occurred."
Maritime New Zealand investigated the capsize and found Lady Anna was seaworthy and Mr Eklund had not followed best practice by crossing the bar at low tide.
