Beachgoers have been praised for saving the life of a fisherman whose boat capsized at Bombo Beach on Sunday.
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NSW Ambulance Illawarra Inspector Robert Kembrey said the boat tipped over when it hit the wave break, throwing its two occupants overboard.
A 59-year-old man become submerged for around three minutes, while his friend - a 52-year-old - managed to swim to shore.
It's understood three people swam out and rescued the unconscious man from underneath the boat and brought him to shore.
An off-duty member of the Kiama SES unit was part of the rescue and began performing "rescue breath" until paramedics arrived, who treated the patient as a "submerged near-drowning".
"[The rescuers] made the biggest difference to the life of the man," Inspector Kembrey said.
Emergency services were called round 12:10pm after the 15 foot recreational vessel was seen struggling in the surf and overturned.
It's understood the pair were experiencing engine trouble with the boat drifting into rough waves. The fisherman managed to let off a flare before the boat overturned.
Mr Kembrey said the older man had ingested a lot of salt water and was believed to be under water for about three minutes.
He was taken to Wollongong Hospital in a stable condition and the other man was was taken to Shellharbour Hospital with an arm injury.
Water police were now investigating the incident.
Rough waves washed the fishing vessel ashore, where it was still stuck Monday morning.
Lake Illawarra Acting Inspector Lee Ingmire said a salvage operation would be undertaken at some point on Monday.