Wanaka search and rescue volunteers recovered the body of 21-year-old Otago University student Blair Andrew Martyn from underneath the Scott's Beach pontoon at Lake Hawea around 8.30pm last night.
Mr Martyn, of Dunedin, was staying at a holiday home at Lake Hawea with friends and had gone for a swim about 10.30am.
He was reported missing at 5pm after friends became concerned he had not returned.
They went to the beach, discovered Mr Martyn's clothes and contacted police, who immediately began a search operation.
Snr Sgt Alan Grindell said yesterday Mr Martyn had drowned in what was a tragic accident.
Mr Martyn was described as a strong swimmer and police did not believe alcohol was involved.
It was not yet known how Mr Martyn came to drown. Snr Sgt Grindell said police were waiting for the results of a post mortem.
The pontoon is moored about 30m from the shoreline of Scott's Beach. It was placed in the swimming bay several weeks ago.