Friends had been sending prayers and well wishes for the Queensland man in the hours after his disappearance.
Heard said goodbye to his wife Erica about 3pm on Thursday but has not returned since.
Friends of the victim — who was a life member at the Cairns Cruising Yacht Squadron — have since taken to social media to send well wishes.
"Prayers you come home safe mate and all my heart going out to Erica," one person wrote.
A four-metre crocodile was found close to the vessel of missing man Andrew Heard on Saturday. It has since been put down and taken back to the mainland. Photo / news.com.au
"Shocked, worried and heartbroken are the only words that come to mind," another said.
"I'm praying for you mate!" a third posted.
Andrew Heard with his wife Erica. Photo / news.com.au
Heard's wife contacted police about 8.30pm after her husband had not returned and couldn't be reached via radio.
The search began Thursday night and officers found the man's 2m boat capsized and with some damage at about 2.30am on Friday morning.
Inspector Andrew Cowie said Heard was reasonably experienced and was on-board "a mother vessel".
"The search is restricted to coastline and creeks, however we are also looking at searches through water as well," he said.
Police began searching for Heard in Hinchinbrook Island on Thursday night. Photo / QPS
It is believed Heard was taken by a crocodile. Photo / news.com.au
Inspector Cowie said crews would continue their search for Heard until it was no longer viable.
"Obviously significant concerns given the environmental conditions in that area … As long as there's a chance that he is alive it will continue."
Heard's wife has been "distressed" but "very thankful" for the support she has been given during the search, according to Inspector Cowie.
He asked anyone that was in the area to keep an eye out along the coastline and advised people who went fishing in the waters to have safety equipment with them.
Queensland's Department of Environment and Science later issued a statement saying it was "highly likely" he was attacked by a crocodile.
"Departmental experts on the ground have examined the vessel and determined that it is highly likely that a crocodile is involved, however the exact circumstances and sequence of events remain unknown," it read.
