Police have named the man at the centre of an air and sea search off the Tauranga coast.
He is Te Awamutu farmer Karl Earwaker, 39.
Mr Earwaker's 5.6m fibreglass Sea Nymph, named Optimist, was found empty and capsized about two nautical miles south of Mayor Island on Tuesday. Large-scale searches from air and sea have been carried out but with no success.
Police yesterday described it as a tragic accident. It was not yet known how the boat capsized.
A surface search of the area where the boat was located began again today at first light by police staff and Mr Earwaker's family.
Thisafternoon the police dive squad and navy will begin a seafloor search in the same area.
Police said in a statement their thoughts were with Mr Earwaker's family and friends.
The search team included Tauranga Coastguard, the Trustpower TECT Rescue Helicopter service and other privately contracted helicopters, and chartered boats.
Yesterday, as many as three helicopters were involved in the search, and similar numbers of search craft were expected to be involved in today'smission, she said.
Police said the family of the missing person had asked for privacy as the sea and air searches continued and asked that further details not be released.
Mr Taylor asked anyone who located anything in the water or along the shore which appeared to have come from a boat to GPS log it and contact the Coastguard.