The helicopter arrived about midday. The beacon was located in the Abrahams Bay area.
Detective Sergeant Grant Johnstone said staff were yesterday speaking to the family of the dead hunter.
An investigation into the incident was ongoing, he said.
It is not known yet whether the victim was shot by a member of the same hunting party.
More details are expected to be released this morning.
An Island resident said two helicopters had been flying in the area yesterday afternoon.
The Deerstalkers' Association said yesterday's death was a reminder all hunters needed to be vigilant in following firearm safety checks.
The roar season, which runs until the end of next month, meant stags and hunters were out in force, said national president Bill O'Leary.
In April last year, 56-year-old hunter Wayne Edgerton was sentenced to seven months' home detention and 400 hours' community service for fatally shooting father-of-two Adam Hill, 25, in Longwood Forest, Southland.
Mr Edgerton, who mistook Mr Hill for a deer, was also ordered to pay Mr Hill's partner $10,000.
In September 2012, James Dodds was shot by his hunting companion in the Waikite Valley area near Rotorua. His death prompted a number of coroner's recommendations to the Law Commission and the Government, including a review into charges available to authorities in hunting accidents and education around target identification.
Mr O'Leary said all shooters needed to have the mindset that everything seen in the bush was another person.
"If we start with that mindset, it will reduce the chances of a person misidentifying an animal because he or she is excited.
"Every time there is an incident, we always take a good, hard look at what happens, and then we use the details of that to hopefully train the next group of hunters
"It's very rare that you have an incident which is solely the result of a firearm malfunction.
"It's always disappointing when we hear of a fatality."
