About 10 paragliders from a larger group of 30 struck difficulties over Lake Wakatipu about 8.10pm, after launching earlier in the evening from nearby Cecil Peak and flying towards Queenstown.
Members of the group were understood to have got into trouble when caught by a southerly wind change, with up to five landing in Lake Wakatipu and others in other parts of the resort, police and paragliders told the Otago Daily Times.
A collection of boats, and Queenstown Lakes district harbour master Marty Black on a jet ski, were quickly on the scene to assist, but no paragliders were believed to have been injured.
Mr Black said he had helped rescue two paragliders from the lake, and expressed concern at the incident.
However, he declined further comment last night, saying he wanted to speak to the parties involved first.
Members of the group landed in the lake, on the lake's edge or in the town centre, a Christchurch-based police spokesman said.
Kelvin Heights Golf Course head green keeper Ryan Irwin said he was walking his dog when he noticed the paragliders flying over the ninth green and heading towards the Queenstown Gardens.
"They usually land at the school, so this is a bit out of the way."
Southern Hang Gliding and Paragliding Club member Dominic Eller said the flight from Cecil Peak to Queenstown was routine, but the paragliders would have encountered a strong sea breeze.
A MetService spokesman said at the time of the incident it was gusting to 35kmh at Queenstown Airport.
It is understood the paragliders are local and international pilots.
Further details were unavailable last night.
Acting Sergeant Dan Andrew, of Queenstown, said police received five calls saying paragliders were "falling into the lake".
"Someone could have been hurt, so of course we take the situation very seriously," he said.
Paraglider pilots spoken to at the scene - who all refused to be named - said all pilots were accounted for.
One pilot said, "We have done these evening flights many times before.
"Today, the wind just changed and some got caught out.
"If you have to land along the lakefront, it is safer to land in the water. It was still an awesome flight."
The pilots said they had previously arranged for three boats to be on the water as a precaution and they did not consider the event to be a drama.
Acting Sgt Andrew said police were investigating the incident, but did not yet know if charges would follow.
