Rescuers have suspended the search for the last man unaccounted for after the capsize of the charter fishing vessel Francie in Kaipara Harbour.
Three of the 11 men on board the 12-metre launch survived the incident on Saturday, while the bodies of seven others have been recovered.
Authorities said they have no new search leads and presume 56-year-year-old Taulagi Afamasaga has died, with experts saying it is not possible to survive for so long in the water.
"The decision to formally suspend the Search and Rescue operation is not one that is made lightly," said Inspector Mark Fergus, Waitemata Police.
"It is a formal process that is subject to independent review, to ensure that all possible search options have been exhausted."