Update 03:25PM: Police have confirmed the body recovered from Tauranga Harbour this morning is Peato Samele Ilalio, missing and presumed drowned since Thursday.

Police and the Waihi Beach Coastguard search for missing man Peato Samele Ilalio at Kauri Point Wharf. Photo: Bruce Barnard.

As the search for the 40-year-old enters into its fourth day after Peato disappeared, police recovered the fisherman's body at about 10.15am on Sunday.

The Navy were conducting a sonar search off Kauri Point Wharf, near Katikati, when police say the body floated to the surface.

Tauranga Police Search and Rescue Sergeant Craig Madden would like to thank all volunteer groups which assisted in the three-day search.

These included Waihi Beach Coastguard, Waihi Beach Surf Club, the TrustPower TECT Rescue Helicopter, Tauranga Harbour Warden and Tauranga Land, Search and Rescue.

"The family have asked to pass on their sincere thanks to all who helped with the search and being able to bring their loved one back to them."

A SunLive reporter at the scene says there was quite a presence of police and search and rescue teams at Kauri Point Wharf this morning. She says singing could be heard from the area and a hearse has just left the scene.

Walking tracks around the area and vehicle access to the wharf which have been closed off with police tape are now open.

It is believed Peato went missing after jumping off the Kauri Point Wharf, near Katikati, on Thursday.

Searches by police, the coastguard, a rescue helicopter, Waihi Beach Coast Guard personnel and members of the public in their boats have continued since Peato's disappearance.

Police divers with assistance from the Royal New Zealand Navy's Mines Counter Measures team from the Devonport Naval Base began a search yesterday.

The matter has been referred to the coroner.