Northern Rescue Helicopter rescuers can be seen climbing onto the deck of the vessel that barely breaches the surface to assist the five men.
The video shows a helicopter crewman lowered into the water with lifesaving equipment, as one man leaps into the water off the wreckage and goes to him.
Ten people were on board when the Enchanter sank amid rough seas around 11pm near Northland on Sunday.
A large wave is understood to have hit the boat near Murimotu Island, breaking the bridge.
The devastating incident has left at least four people dead and one still missing.
A search continues today.
Police divers are this afternoon checking the wreckage of the Enchanter.
The vessel sank off North Cape overnight on Sunday
Rescue Coordination Centre spokesperson Nick Burt says checking the wreckage is important as the search continues for the last unaccounted for person.
It may take some time as there are potentially hidden hazards within the wreckage, Burt said.
Divers will assess whether the search can be completed where the wreck is, or if it needs to be towed to more shallow waters.
