The Taiwanese tourist was fishing with two friends off the southern point of Honeycomb Rocks at Hill 60, where the water was teeming with Australian salmon.

The man, aged 26, disappeared about 3pm.

Police said his friends didn't see him go into the water, but soon saw him floating off the point.

He was thrown an angel ring but did not respond.

Witnesses managed to flag down two men on a jet-ski off Port Kembla Beach who found the victim and took him to Fisherman's Beach, on the northern side of the point.

Police Inspector Paul Condon estimated the man had been in the water for about 10 minutes.

He never regained a pulse or heartbeat.

"Police and paramedics commenced CPR, however the male was pronounced deceased at the scene," Insp Condon said.

The man had been in Australia for about six weeks and had travelled with friends from Sydney for the day.

The two friends will inform the man's family of his death.

Supporters arrived at the point soon after the body's retrieval to comfort the two jet-ski riders, both aged 20, from Corrimal.

The victim was not wearing a lifejacket.

His death follows those of other fishermen including Han Fie Tjoe (April 2010), Minh Loi Truong (July 2009) and Wan Uk Lee (March 2009) at the same or nearby locations.

The swell was about 1.8m yesterday, with big waves crashing sporadically over the edges of Honeycomb Rocks.

A Port Kembla fisherman, who did not want to be named, said the site never failed to deliver a catch, and this was well known to visitors who weren't familiar with the conditions.

He said yesterday's conditions were "too rough" at the section of rock where the man had disappeared but nearby spots were better.

"People come here from all over Sydney," he said.

"They should start building jetties, it would be safer."

"Or they should have gates in, then when it's too rough, shut the gates."