The Transport Accident Investigation Commission (TAIC) said it was investigating what led the vessel, Lucy-C, to capsize with two people onboard while fishing for crayfish near Peketa, about 7am on Monday.
"The reported circumstances were that the Lucy C was underway fishing craypots near shore with two people onboard, when the vessel capsized," TAIC said.
"One crew member swam to the nearby beach, with minor injuries. The skipper was later located at a nearby beach, deceased."
A crew member was able to swim to shore with minor injuries, and the skipper was found dead on a nearby beach, some time later.
Two investigators were travelling to Kaikōura tonight to begin gathering evidence.
Their initial work would be to secure any evidence that could be affected by the elements or time - including what witnesses experienced or saw.
They would also examine the vessel and its data, history, performance, maintenance, and design while taking into account the weather and sea conditions.
TAIC said it opened an inquiry when it believed the circumstances of an accident or incident have - or are likely to have - significant implications for transport safety, or when the inquiry may allow the Commission to make findings or recommendations to improve transport safety.
It said investigators wanted to hear from anyone who saw the boat capsize. Witnesses could contact the commission at info@taic.org.nz.
-RNZ and Allied Media
