Crowds gathered on Wednesday afternoon to watch a salvage team haul out a 57 foot launch beached in Mount Maunganui.

Crowds watching a salvage team haul a large launch from water off Mount Maunganui.

The boat, believed to be worth about $400,000, became beached after hitting rocks near Rabbit Island on Tuesday night.

Nigel Evans, a friend of the skipper, believes the launch was deliberately driven toward the shore so it didn't sink in deep water.

Sergeant Craig Madden says the boat had partially sunk into a deep hole.

The 19.4 tonne boat, named Paradise, has a 1.5 metre hole in its front hull.

Salvage teams, along with the owner, waded out into the water and tried to secure it.

A large digger is trying to scoop out the sand built up around it.

Craig says they hope to attach large nylon straps to the rear of the boat and drag it out backwards.

'The integrity of the structure will make the stress of being pulled from the front too much.”

A large truck will be used to haul the boat out of the water.

Craig says deteriorating weather means they must get the boat out on Wednesday afternoon.

He says 1pm on Thursday will be the next opportunity they get to salvage it.

An investigation into the incident is continuing.