The yacht's wreckage was found on Friday but extensive searching on the water, as well as an aerial search of over 191 square nautical miles by a RNZAF P3 Orion, failed to find the men.
Rescue Coordination Centre New Zealand search and rescue mission coordinator Mike Roberts said a search of the island could take two days.
"The searchers have been landed ashore and they will camp overnight if necessary," he said.
"In addition, we hope to have a vessel do a shoreline search around the island, using kayaks and dinghies, and hopefully also land people ashore.
"It is hoped that further attempts will be made to dive on the wreck of the more significant parts of Navillus which have already been located, to check for the presence of the yacht's dinghy."