Three men have been found alive after their 12ft aluminium dinghy sank in Wairoa Bay overnight during a late-night fishing trip.

Police say they received a report at about 6.45am from a man who had swum to shore near the Waitangi Mountain Bike Park after the vessel went down at around 3am. His two crewmates were unaccounted for and had last been seen clinging to a chilly bin. None of the men were wearing lifejackets.

Detective Sergeant Paul Overton, who leads Northland Police Search and Rescue, said a coordinated response began immediately, with Coastguard Bay of Islands units on the water and the Auckland-based Heli Med helicopter in the air.

Just after 8am, an officer who had borrowed a motorbike from Bayleys Farm to check the shoreline located one of the missing men. He was cold but uninjured. Less than an hour later, Heli Med found the third man on rocks near Bayleys Farm. He was winched out and taken for treatment for minor injuries.

Overton said it appears a large wave struck the vessel, rapidly filling it with water and causing it to sink. “I cannot stress just how incredibly lucky these three men are,” he said. He repeated standard safety advice: check the marine weather, always wear a lifejacket, take two waterproof ways to call for help, and tell someone where you’re going.

Overton added that a recent training exercise had simulated a near-identical scenario and “paid dividends” during the rescue. Agencies involved included Police, Far North LandSAR, Coastguard, Westpac Rescue Helicopter, Maritime and Northern Rescue. Auckland Westpac Rescue Helicopter chief aircrew officer Ati Wynyard said the operation was another example of agencies working together to prevent a potential tragedy.