Late this morning, a distress call was made when an observer on the lighthouse walk noticed a capsized boat at the northern tip of Palm Beach.

The small boat, known as a tinnie, was found overturned on the rocks, with its engine engulfed in flames.

A survivor, stranded on the jagged rocks, was discovered bleeding but miraculously alive despite the ordeal.

In a dramatic rescue effort, a paramedic was lowered from a helicopter to attend to the man, who revealed that two others remained missing in the water.

“Our hearts go out to the people involved,” expressed Rod McGibbon, the duty officer for Surf Life Saving NSW.

The rescued individual was then carefully hoisted over the turbulent seas and transported to safety by ambulance.

A surf lifesaver on a jet ski had been the first to respond, pulling a body from the treacherous swell and onto the sand.

The man was given CPR by paramedics but died at the scene.

“We did have patrols on the beach today, which was fortunate, and they were able to respond very quickly, which is part of the reason we were able to save one of those people,” McGibbon said.

Still missing in the crashing waves is a 14-year-old boy.

NSW Police Acting Inspector Nicole Turner said officers were assisting Surf Life Saving Australia, the Westpac Rescue Helicopter and NSW Ambulance in the search.

The conditions off the coast had been rough today, with a warning issued for large and powerful surf.

Those same conditions have made the search operation more difficult.

It’s unclear where the trio had set off from and whether they had seen the warning signs. It did not appear they had been wearing life jackets.

Anyone with information is urged to contact police Northern Beaches police or Crime Stoppers on 1800 333 000.