Three fishermen had to be rescued by helicopter when their 14-metre vessel Albacore sank off south Westland just after 7am on Thursday.
The men were checking crayfish pots when they hit a rock near Cascade Island, about 19 kilometres south of Jackson Bay.
With the vessel taking on water, the skipper radioed a mayday call just before the crew abandoned the boat for their liferaft.
They were picked up by helicopter as they waited on rocks on Cascade Island.