Police have released the name of the man found washed up near Fossil Bluff on Wednesday.
The family of Wynyard's Isaiah Dixon officially gave Tasmania Police permission for his identity to be released on Thursday afternoon, following the discovery of his body a day earlier.
Mr Dixon had set out for a day trip in his father's boat on Monday afternoon, along with Wynyard's Bree-Anna Thomas, and West Ulverstone's Thomas Courto.
The trio were reported missing after not returning that afternoon, and a large-scale search was launched by Tasmania Police, local surf clubs, the Australian Maritime Safety Authority and volunteer marine rescue groups
In the meantime, family and friends of Mr Dixon took to social media with tributes of love and sadness.
Waratah-Wynyard mayor Robby Walsh said there had been a "fair old vigil" down at the Wynyard Boat Ramp overnight.
"There must have been 100 people," he said.
"There was armfuls of pizza boxes and people walking round, there was a Vinnies food van."
He said he had gone to a funeral earlier that day, and showed up to the vigil in a suit.
"These are all working people, and I went down there and I thought, 'I don't fit in here', so I went home and changed," he confessed.
"I went back and the mother of one of the boys said 'oh Robby', and gave me a hug.
"And then I realised I knew the grandfather of one of them, and some of them went to school with my boys, and some of them go to school with my grandkids.
"We're a tight-knit community here, and we stand behind them."
The search for the remaining man, Thomas Courto, and the yellow half cab vessel belonging to Mr Dixon's father is ongoing.
Police have also asked members of the public not to release drones in the area when the Westpac Rescue Helicopter is flying, as it may endanger the helicopter crew.
The search for an overdue boat and a missing man has resumed for third day.
The bodies of two of the three people that set out in the boat on Monday were discovered on Wednesday afternoon, washed up on a shore west of Fossil Bluff.
Searching is once again underway from the sky with the Westpac Rescue Helicopter, and on the ground with crews conducting a coastline search.
Police have again asked that members of the community do not enter the water to assist while the police search is going on.