Local residents, the coastguard and surf lifesavers also spent the afternoon searching the murky water while police and volunteers conducted a shoreline search.
The police national dive squad arrived early yesterday evening to help.
The search was suspended late last night and resumed, with police divers and Waihi Beach coastguard, at 10am today.
The apparent tragedy would be the third water related death in the Western Bay of Plenty in as many days.
Palmerston North woman Catherine Hintz died after being found lying at the bottom of a Tauranga motel thermal pool on New Year's Eve. A Tauranga man died during a diving trip near Motiti Island on January 1. He has been named as Blair Kiddle, 42.