KEY POINTS:
A boatie who was in water for about nine hours after his boat sank in the Hauraki Gulf is in a moderate condition in Auckland Hospital.
Two men went missing after their boat sank in the Hauraki Gulf just before 9pm last night.
A search involving the police maritime section, coastguard and the Westpac helicopter was launched after their boat sank in Tamaki Strait at about 9pm last night.
The extensive search throughout the night failed to locate any trace of the men or the boat.
But at 4.00am residents at Te Pene Beach, Maraetai, found one of the men and helped him from the water.
He had become separated from his companion at some stage following the sinking and was taken to Middlemore hospital for observation.
Police Inspector Ian Brooker said the second man was found alive off Maraetai Beach this morning.
He was freezing after nine hours in the water, Radio New Zealand reported.
A St John Ambulance spokesperson said the second man was in Auckland Hospital and was in a "moderate condition".
The men's runabout sank in the Tamaki Strait in the Hauraki Gulf and they became separated in the water.
- NZHERALD STAFF / NZPA