Southland KIA confirmed on social media that its dealer principal Rick Murrell had died, calling him a much-loved figure in the Southland community, who was larger-than-life, quick witted, and "a character that everyone admired and enjoyed being around".
A search was launched when two experienced fishermen did not return from a fishing trip on Lake Manapouri on Sunday night and failed to check in via radio.
A local helicopter located the boat in Safe Cove about 12.30am with both men on board.
The other man was taken to hospital in a serious condition, and police said he was recovering well.
Police are investigating his death on behalf of the coroner.
Southland KIA said Murrell lived life on his own terms and made the most of every moment.
"Fiordland holds a deep and personal history for the Murrell family, making it all the more poignant that Ricky spent his final moments in a place so closely tied to his roots."
He left behind his wife and three children.
"Ricky will be remembered for his dedication to family, passionate friendship, his laughter, and his sense of adventure," the company said.
"He will be deeply missed."
Bluff Coastguard president Bill Obers told the Otago Daily Times that Mr Murrell, a member of their unit, was a "salt of the earth" kind of person.
"He was just a really likeable guy. Our condolences go out to his family.
"He will be missed by the unit; he put his all into it as he did with everything else."
Insp Bowman said police were investigating the series of events before the pair were discovered.
"Inquiries will be made by police on behalf of the coroner in relation to the deceased, and police’s sincere condolences go out to their family and loved ones."
—RNZ/APL
