Search teams have failed to find any sign on Wednesday of a man missing off the Coromandel coast.

The Honfleur, an 11.5m single-masted yacht, belonging to 56-year-old charter boat operator Richard Rusbatch, was found on Tuesday morning about 11 nautical miles east of Mayor Island with its motor running and the anchor dragging in the water.

He was not on board.

LandSAR teams searched Mayor Island, near where Mr Rusbatch's yacht was found, while the coastguard searched the shoreline.

RCC search co-ordinator Mike Roberts said earlier on Wednesday it believed Mr Rusbatch may have fallen overboard while trying to anchor at the island.

"Our analysis supported by the evidence shows that it is likely Mr Rusbatch was intending to anchor off Mayor Island in an area called Honeymoon Bay," he said.