Three men, including one who was 70, died after their boat flipped in Manukau Harbour yesterday.
Police said in a statement that the other two victims were aged 54 and 61.
A fourth man, aged 23, is in a moderate condition in Auckland Hospital.
Police and Maritime NZ are continuing to investigate the incident, police said in a statement this afternoon.
Investigators are appealing for witnesses who may have photographed the accident.
Chief investigator of accidents from the Transport Accident Investigation Commission, Harald Hendel, said it is not known what happened after the vessel overturned.
But he said other boaties in the area found three dead people in the water and a fourth person who was taken to hospital.
Hendel wants to hear from anyone who saw the accident or the boat during its journey.
An investigation team is travelling to Auckland tomorrow to collect evidence, including any wreckage.
Emergency services were notified at about 4.40pm that the boat had overturned at Manukau Heads, near the bar.
Police, along with the Westpac Rescue Helicopter, Maritime NZ, Surf Life Saving NZ, Coastguard and St John Ambulance responded to the incident.
Police have offered their sympathy to the victims' families and friends.
Boat safety paramount - Water Safety NZ
Water Safety New Zealand is devastated five people have died in Auckland's Manukau Harbour in about a week.
As well as the three who died yesterday, two others died last weekend.
Water Safety chief executive Daniel Gerrard said Aucklanders, at Covid-19 alert level 3, need to be wary heading into the water and the possible strain they may place on emergency services.
He said people also need to make sure they are physically fit to be on the water and they have suitable equipment - including lifejackets.
Gerrard said the deaths are tragic to see as New Zealanders head towards the summer months.