Two men were rescued after the boat they were on sunk in Wellington Harbour this afternoon.
Wellington Police Maritime Unit were called to the sinking vessel around 12.30pm.
The two men had jumped off the sinking boat and were found floating in the water one kilometre off Matiu/Somes Island.
Both men were wearing life jackets which they told police helped save them from drowning.
One of the men suffered hypothermia and the other man was rescued by Red Hot Marine staff who were nearby.
Both were treated by ambulance staff on arrival at the Seaview Marina.
The men told police they noticed water was flooding into the hull when the vessel went up to full speed.
The pair tried to stem the flooding, but the 5.8 metre jet boat started to sink before the men could call for help on the VHF radio.
The owner of the boat is said to be taking action to recover the vessel from the seabed.