A man has died after the yacht he was sailing capsized off the Tauranga coast early this morning.
A second crewman survived by clutching on to the upturned hull.
The Rescue Coordination Centre New Zealand (RCCNZ) was alerted to the pair's plight when an emergency locator beacon wasactivated at 5.20am.
This was quickly followed by a maritime radio mayday call and the sighting of two distress flares.
The Trust Power Rescue Helicopter, a Phillips Rescue Trust fixed wing aircraft and a Tauranga Coastguard vessel were sent to search for the yacht, which was found overturned near Motiti Island, 20km east of Mt Maunganui, just before 7am.
The surviving crew member was found hanging on to the upturned hull of the 12m yacht, while the body of his companion was found in the water nearby.
The yacht appeared to have lost its keel, the RCCNZ said.
The dead man's name will not be released until next of kin have been informed.
Maritime New Zealand will investigate the incident.
