The search continues for a 24-year-old fisherman after his boat was found washed up on the beach.

A search started after midnight after a boat with three people on board flipped on the Bowentown bar.

Two of the three, a 28-year-old man and a 10-year-old boy, were found alive on shore and were released from the hospital this morning.

"There is still no sign of the missing person," said Waikato police Search and Rescue co-ordinator Sergeant Vince Ranger.

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The boat was found about two nautical miles north of the bar. Debris has also washed ashore.

"There were some seats, fuel cans etc."

Three Coastguard vessels from Whangamata, Tauranga and Waihi Beach, Surf Life Saving boats, several rescue helicopters, including Trustpower TECT Rescue Helicopter, Coastguard Air Patrol and HMNZS Taupo have been involved in the search.

The rescue area extended along the coast north of Waihi to Bowentown.

"Our prime search is out at sea covering an area close to 30 square nautical miles, between the bar and the north end of Waihi [beach] near the rocks," Ranger said.

The name of the missing man has not been released.