Search suspended for missing man off Queensland coast

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The search for a man who went missing after his yacht sank off the Queensland Coast has been called off.

The search began when an emergency radio call was made by the skipper at 8.30pm on Sunday, about nine kilometres off Fraser Island, also known as K'gari.

A 25-year-old woman was rescued by air crews on Monday after spending the night in the ocean, but an air and sea search has failed to find the man, who is in his 60s.

Multiple aircraft and vessels were used in the three-day search.

Regional search co-ordinator Rowan Treiguts said the outcome was devastating for the man's family.

"Despite our best efforts, we have been unable to locate the man and bring him home to his loved ones," Senior Constable Treiguts said.

"We have liaised closely with his family and discussed the sad news regarding the likelihood of survival.

"They have asked for privacy during this difficult time."

Sen Const Treiguts issued a warning to boaties to be prepared and remain alert to all conditions.

"Before you set out, ensure you tell a responsible person about your itinerary and to raise the alarm early if you come into trouble," he said.

"And always wear your life jacket, as conditions change unexpectedly."