Daniel Harrington, of Christchurch, was competing in the seventh heat of the first round in the South Island Surf Championships at St Clair, Dunedin, when he was caught in a rip shortly before 11am.
Mr Harrington (29) told the Otago Daily Times he was with other surfers waiting for his heat to start when he was caught in a large rip.
"I wasn't aware of how fast I was going until I looked up and I saw I was 200m along the coast."
When onlookers lost sight of the New Brighton Surf Club member, emergency services were called to the scene.
Senior Sergeant Mel Aitken said in addition to police stationed along the coastline, two inflatable rescue boats (IRBs) from the St Clair Surf Life Saving Club and the Otago Regional Rescue Helicopter were dispatched.
More than 30 minutes after he disappeared, a member of the Dunedin Marine Search and Rescue team spotted him stuck on rocks, surrounded by heavy swells, below Cargill's Castle.
Otago Regional Rescue helicopter paramedic Andrew Duncan winched the man to safety.
Mr Harrington, a Christchurch physical education teacher, said his "extremities" were hurting after being winched - and he was smarting over the loss of his $800 surfboard, which had sentimental value.
Dunedin Marine Search and Rescue spokesman Rowan Leck said with the one of the largest rips seen in the area it was an accident waiting to happen.
South Coast Board Riders Club president Damian Phillips acknowledged concerns raised by Mr Leck and police that the event did not have its own IRB on stand-by.
The competition is expected to continue today and tomorrow.
