Three men have "narrowly escaped tragedy", police say, after their boat was struck by a large wave and capsized in the Bay of Islands this morning.
Police said it received a report at 6.45am Friday from a man who swam to shore after the dinghy he was on had sunk off Wairoa Bay, near Waitangi at around 3am.
Detective Sergeant Paul Overton said the man's two crewmates were still unaccounted for and were "last seen clinging to a chilly bin in the water".
"The males had been fishing at the time and were not wearing life jackets," Overton said.

Coastguard said that five volunteers from Coastguard Bay of Islands immediately launched rescue vessel Bay Rescue 2 to help with the search, alongside a Westpac Rescue Helicopter.
"At around 8.30am, the second person was found safely washed ashore," a Coastguard spokesperson said.
Less than an hour later, the third missing person was located on the rocks near Bayleys Farm in a moderate condition.

"The person was flown to Waitangi Bike Park where they were transported to hospital by road ambulance." An Auckland Westpac Rescue Helicopters spokesperson said.
Overton said the incident was caused by a large 12ft striking the vessel, causing it to "rapidly fill with water and sink".
"I cannot stress just how incredibly lucky these three men are," he said, describing the situation as a "terrifying ordeal.

"This situation could have had a dire outcome and we’re thankful we’ve been able to return these men back to their loved ones."
He said fortunately, a recent training exercise had simulated the exact situation, which "paid dividends" during the rescue.
"We cannot say it enough, if you are going out on the water, check the marine weather, make sure to always wear a lifejacket, take two waterproof ways to call for help, and tell someone where you’re going."



















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