As he rushed into the water to retrieve his rod, he collapsed.
Local residents, including a man fishing off nearby rocks and a fisherman who had just returned to the beach by boat, saw the incident unfolding and rushed to the man's aid.
They pulled him from the water and tried in vain to resuscitate him. He was dead when St John Ambulance arrived.
Mr Reynolds praised the locals who did their best to save the man's life.
It is understood the keen fisherman had sold his business in Auckland and moved to the Karikari Peninsula from Auckland with his wife two days earlier. His name has not yet been released.
The coroner will decide whether a post-mortem examination is required to confirm his cause of death.