Bishop boarded at Rotorua Boys High School and was well known for his rugby, having played for its 1st XV and the New Zealand U18 side. He was from Kaingaroa.
The school's principal, Chris Grinter, said the primary focus was finding Bishop's body. "A lot of his friends are out there, including the boys involved in the accident."
He said the youth piloting the second jetski was also a Rotorua Boys' student.
Mr Grinter said staff from the school were also at the lake, offering support.
"Even on holiday, they are still our students. A number of staff members were out ... offering support as we can, basically being there and being concerned," he said.
Bishop's family also spent yesterday at the lake and are holding a vigil.
Relatives and supporters have set up tents and were cooking on the outdoor barbecue at the Lake Okareka reserve.
Carloads of mainly young people began arriving early yesterday to add their support. At times they went in small groups out on to the jetty to sit and wait for news.
Mr Grinter said Bishop was widely known at his school, despite its roll of 900 students.
"It was common for him to be part of the music at assemblies and he was a star of the rugby team," Mr Grinter said.
He described Bishop as a stunning young man who, aside from his rugby, was also a talented musician.
"He had all the potential and talent. It is such a shame that he was lost at such an early age."
- additional reporting: NZPA
