The incident was referred to the coroner.
The man was understood to be a South Korean national using the name Mark Park.
Senior Sergeant Chris Brooks confirmed the swimmer had been formally identified but the man’s official name was not available for public release yesterday.
He went missing in the lake on Thursday about 6.50pm, while swimming with a friend off the beach at the end of Helwick St.
There was no information or explanation yet as to why the man had died, he said.
"It could have been a medical event, but I don’t really know. It was good to recover the tourist and return him to his family."
Queenstown Lakes District Mayor Glyn Lewers today extended sincere condolences to the Korean man's family and friends.
“On behalf of the local community I would like to pass our thoughts and sympathies to everyone who knew Mr Park, especially his family and closest friends who will naturally be shocked and deeply saddened by this tragic incident so far from their home country,” he said.
“For a holiday in Aotearoa New Zealand that should have been filled with fun and adventure to have ended in such a way is truly heart-breaking.
“I would like to thank everyone involved in the search for Mr Park. In particular our local police officers and the Wellington-based dive squad, Coastguard volunteers, Council staff and waterways contractors, members of the public and iwi.”
“I also acknowledge the respect and co-operation shown by local commercial operators on the lake during this time."
Part of the beach was cordoned off and the scene was guarded overnight.
The Wellington-based police dive squad arrived in Wanaka about 11.30am yesterday and after a briefing and equipment check, entered the water about 1pm.
Just before they entered, Coastguard volunteers marked a spot of interest with a single buoy, just a few metres away from the pontoon.
The man’s body was retrieved from that area after about 30 minutes of underwater searching and taken by the Coastguard boat to the Wanaka Marina, where his friends and brother were waiting with supporters from the South Korean consulate.
Wanaka funeral director Paul Tamati conducted a blessing over the man’s body and the lake.
It is understood that the swimmer had been recently discharged from compulsory national service in his home country. He was on holiday in New Zealand.
Although mana whenua did not put a rahui [restriction] on the lake on Thursday night, Snr Sgt Brooks confirmed a karakia [prayer] was performed on Thursday night.
Snr Sgt Brooks said the commercial operators were respectful throughout the search operation.
