The diving team had nearly reached the wreckage when things went wrong: "We were at 55m and once were down there and the gear failed. My helmet just flooded. "I got water in my mask and from there I had to come off the breathing [apparatus] and go into a secondary unit. From there, I was unconscious.
"Yeah, it was a bit scary, I guess, but I didn't really think about it at the time. I was just thinking about what I had to do. My training kicked in and I did what I had to do, really."
Monitored radio communication among the diving team meant Mr Holland's diving partner was quick to come to his aid and helped take the former Te Puke High School student to the surface. "I wasn't really conscious when I came up, so I don't really remember too much."
Mr Holland said it was still unknown what happened to his gear, with an internal investigation into the incident going.
"All I know is my gear failed."
Mr Holland was taken to Auckland Hospital and discharged the next day.
He said rumours that he'd suffered the bends were untrue but doctors had been unable to offer any distinct diagnosis.
"It's like a near-drowning, then again it's hard to say."
Mr Holland said he did not remember much of what happened once the water came rushing in.
He is now back on deck with the Navy, but on light duties until further notice.
Mr and Mrs Hertz's bodies and the plane wreckage were recovered last week.