The search was sparked by an intoxicated Queenstown man (20) who fell down a cliff in Sunshine Bay while returning home in the early hours, then reported he had heard another person crying for help.
Up to nine Coastguard Queenstown searchers, two boating operators, four police and 12 Wakatipu LandSAR volunteers undertook the search, which was officially called off at 3.30pm.
Coastguard Queenstown president Carl Porteguys said despite it quickly becoming apparent there was no-one in the water, they searched, at times using a thermal imager, until about 9.45am.
Coastguard callouts were charged to police at $280 per hour and the volunteering Paraflights and Extreme Fishing boats each usually cost about $1000 an hour to charter.
Mr Porteguys said in addition to those costs were the lost wages of coastguard volunteers who had to take time off work.
While it was an inconvenience to searchers, he said the coastguard was there to ensure people's safety.
"Any outcome where nobody is harmed is good," Mr Porteguys said. " I would rather be called out to something than not be called out when there really was an emergency."
Sergeant Steve Watt, of Queenstown, echoed Mr Porteguys' sentiments and said there were no extra costs for the police and LandSAR operation, other than volunteers' lost wages.
"They train hard. It's what they do. They enjoy it and it's really good to have them to call on in these situations," he said of the volunteers.
The Queenstown man was still suffering from the effects of intoxication and the fall when found.
St John Queenstown team manager Alana Reid said he had abdominal injuries.
He was assessed at the Lakes District Hospital before being flown to Southland Hospital in the Lakes District Air Rescue Trust helicopter. He remains in hospital in a stable condition.
