Barnaby said New Zealand authorities should consider measures taken in Australia, where the Coastguard has the power to step in and close certain areas of the water.
"That's what they do here, they close beaches here if there's a shark sighting and close bars at the drop of a hat if it appears to be too rough."
Maritime New Zealand warns "extreme caution" must be exercised when crossing bars - collections by sand or silt near harbour entrances which can see unusually sudden and steep waves without warning.
Barnaby sold the Francie to friend McNatty in October 2013 and the pair stayed in contact regularly, last speaking two weeks before the sinking.
When he was operating charter trips on the Francie, Barnaby said he always tried to avoid bar crossings because of the risks involved.
Barnaby said although McNatty made a bad call on the day to cross the bar, the verdict would probably have been a "group decision" to go ahead.
"If one good thing could come out of this tragedy, it's get the regulations changed," he said.