The 60-year-old fisherman left Katikati around 4pm on Friday in a 4 metre aluminium dinghy and was due back in to shore at 7pm. When he failed to return the police were called around midnight.
A search was mounted with four boats and the Trustpower TECT Rescue Helicopter, but when there was no sign of him it was called off around 3am.
"He was lucky to be alive. He was a strong fella," By-de-Ley said.
The fisherman wasn't up to much conversation as he sat at the kitchen table. By-de-Ley fixed the man a cup of hot coffee and a bowl of Weet-Bix with warm milk then called 111.
The fisherman was taken to Tauranga Hospital suffering from exposure.