From New York, Mr Hollnsteiner's mother Ria David said her son was "coming home" on Friday, which was a relief after her wait.
"But it's also that moment when I see him for the first time. It's heartbreaking to see your son not alive anymore."
Mr Hollnsteiner's funeral will be at the Matthew Funeral Home in Staten Island on Tuesday. The family will hold a wake on Sunday and Monday.
Ms David said family members from the Philippines will be there, including her sister.
Previously the family said the wait for Mr Hollnsteiner's body was frustrating.
Earlier this week, the chief coroner's office issued a statement saying it "sincerely regrets" that the identification had taken longer than normal.
"The bodies were identified by a witness and police at the scene but the identification documentation was not correctly transferred to the bodies. As the witness had then left the country, the coroner requested additional information be provided from overseas to ensure an accurate identification occurred," the statement said.
"While this is naturally a distressing time for the families, the coroner must be certain of the identification of any remains before they are released."
A police spokeswoman declined to comment.
Nine other Monash students were on the lake at the time. The group of 11 was travelling around in campervans and on the fateful Friday went to the lake for the day and hired kayaks.
Tragedy struck when the group ended up in icy water. They were tipped in when a gust of wind caused a swell.