At approximately 2.40pm today the Westpac Police Rescue Helicopter was tasked to attend the South Coast in the vicinity of Red Cape for an emergency beacon.

The helicopter arrived on scene and located a male diver stranded on remote rocks.

The diver was retrieved from the location.

It was established that the male had been diving when his dinghy overturned.

The deckhand on the dinghy has not been located at this stage.

The helicopter searched the area without success.

The search will continue at first light on Wednesday.