However, the crew could have to wait up to 40 hours to be rescued, as few vessels were in the area.
RCCNZ search and rescue mission coordinator Keith Allen said another yacht, Adventure Bound, was about 70km from the Windigo but could travel at only 3-4km/h in the conditions.
The navy offshore patrol vessel HMNZS Otago has been diverted from exercises in the Hauraki Gulf, but would take about 35-40 hours to reach the stricken yacht.
A French navy Guardian aircraft was flying from Noumea to the Windigo's position, and would arrive shortly before 2pm today.
Mr Allen said the crew of the Windigo had secured themselves in the stern section of the yacht.
"They have a liferaft, but in the conditions they're reluctant to leave the yacht until they have to. That is the correct approach for them to take.''
Meanwhile, the P-3 Orion returned to New Zealand to refuel before returning to the area to investigate a second distress signal.
The beacon from an unknown vessel was activated about 5am today, 230km southwest of Tonga.