New Zealand Navy inshore patrol boat HMNZS Pukaki continued searching for the missing 56-year-old overnight, however Mr Rusbatch remains missing.
Tauranga Coastguard and a Land Search and Rescue team will resume the search at first light this morning.
Mr Rusbatch's sister Jane Willing told the Herald the family were hoping Mr Rusbatch, who has several daughters, had made it to land.
"He's a very strong swimmer and he's used to being at sea. So, I've just got my fingers crossed, with his daughters, that he's swum somewhere - to one of the islands. That's what we're hoping for," she said.
Mr Rusbatch runs charter trips between Russell and Tauranga. Mrs Willing said he had been running his charter business for "many years".
An online advertisement for a day trip on the Honfleur says the vessel has a "great layout for day sailing".
"You will sail as much as possible and tuition is part of the parcel of the trip. Troll for fish as you sail, you are welcome to take your filleted catch with you. At lunch time stop at one of the many islands, go exploring, swimming and snorkelling."
Sailors are also offered a lunch of seafood, salad and fresh vegetables on their voyage.
Neighbours in Russell were shocked when they heard about Mr Rusbatch's disappearance.
"I heard it but I didn't know if it was true," said one woman. "I wondered where he'd gone, I haven't seen him for a few days."
Violet Holmes hoped Mr Rusbatch would be found safe and well.
"But it doesn't sound too good, does it?" she said.
Mrs Holmes said Mr Rusbatch lived alone and had been in his house in Russell for about 10 years.
"I never had much to do with him, but he's a nice neighbour. He's a nice man. It was a shock to hear it."
Rescue Co-ordination Centre New Zealand spokesman John Ashby said the search for Mr Rusbatch continued until dark last night and would be reviewed today to determine whether it should be widened.
The search area had been covered twice by aircraft without sign of the missing yachtsman.
Inquiries are also continuing in an effort to determine whether the unnamed dinghy located by police last night may have come from the Honfleur.
Police were urging anyone who had seen the Honfleur since Sunday, after it left Tauranga, to contact them urgently.