Police said the operation resumed at first light with the police Eagle Helicopter providing aerial surveillance. At the same time searchers would scour the shoreline and water in an effort to find the missing fisherman.
Police stood down searches last night because of poor weather.
Those same conditions were expected to continue this morning, with swells of more than 4m and strong winds battering the western coastline.
Inspector Mark Fergus said police did not hold high hopes that the missing man was alive and the search crews were now looking to recover another body.
"Sadly we believe it's likely that this person has also died."
Six of the man's friends died, along with skipper Bill McNatty, in what police have called one of the "largest maritime disasters in recent times".
All of the men who were on board the charter, except McNatty, were of Pacific Island descent - four were Tongan, one was Samoan and one was a Cook Islander.
Two Tongan men and one man of Cook Island descent survived.
Auckland Westpac rescue chopper crew winched two of the survivors from the water. The third swam to shore with the aid of two life jackets on each arm.
Police have launched an investigation.
"We will be assessing whether there is any culpability," Insp Fergus said.
Transport Accident Investigation Commission (TAIC) would also investigate.
Questions were already emerging into whether the charter should have gone out on to the Tasman Sea that day.
Waves up to 4m high battered the boat as it tried to re-enter the harbour.
The former skipper of the Francie, Rod Bridge, said the vessel should not have been attempting to cross the bar on Saturday.
"It shouldn't have been out there. It was too rough ... it's a terrible thing."
