Chief coroner Judge Neil MacLean said had the emergency beacon been able to be released and start transmitting immediately when it came to the surface, it could well have shortened the search response time, which was "impressively quick considering the circumstances".
"Bearing in mind the very narrow window of survivability and the fact that Mr Reedy survived extraordinarily for about 19 hours, the question must always remain had the authorities in the local community been aware of the sinking earlier, that some other lives may have been saved," he said.
The Easy Rider sank on its way from Bluff to Big South Cape Island to drop off passengers for mutton birding. On board were nine people, mutton-birding provisions, several blue cod pots, and over a tonne of ice and bait in the freezer hold.
At about midnight the Easy Rider was hit by a large wave and "completely flipped", the only survivor, Dallas Tumoana Reedy, 44, said.
A search and rescue operation was deployed only after the Easy Rider failed to rendezvous with Southland Lakes Helicopter at 2pm the following day.
Mr Reedy clung to the overturned boat's hull for several hours, then managed to use a 20-litre petrol container for buoyancy before being rescued about 6.10pm. Hours later the first body was recovered and three other bodies were found on March 16.
Judge MacLean said all eight people "clearly perished at or about the same time".
He said that because other inquiries were under way, it was not appropriate yet to say whether there were lessons to be learned.
However, he commended the "amazing, total community response" in what was one of the largest search operations completed in recent years. It involved more than 7000 man hours, 40 hours' flying time, 12 commercial fishing vessels and two coastguard vessels.
- Otago Daily Times