Search for Lake Macquarie man Luke Smith scaled back after boat capsize on Swansea channel

a selfie of a man, Luke Smith. He is wearing a red cap

Luke Smith has not been seen since the boat he was on capsized at Lake Macquarie. (Supplied: NSW Police)

In short:

A land and water search for missing man Luke Smith has been scaled back.

Mr Smith was in a boat that capsized on Lake Macquarie's Swansea Channel on Saturday night.

What's next?

Mr Smith's family said they'll never give up hope, with some marine and land searches to continue.

The family of a man who went missing after the boat he was on capsized say they haven't lost hope he will be found as a search for him is scaled back.

Luke Smith, 23, hasn't been seen since the tinny he was in overturned after hitting a buoy in the Swansea Channel of Lake Macquarie in New South Wales on Saturday night.

Three other men, aged in their early twenties, were pulled from the water after the incident.

The scaled back operation means services including the State Emergency Service and helicopter search support will no longer be used.

NSW Police confirmed searches of the water would continue throughout the week in daylight hours.

"Marine Area Command and Marine Rescue will continue conducting on-water patrols throughout the week, while officers from Lake Macquarie Police District will review the land search [today] with ongoing taskings continuing," police said in a statement.

"Detectives attached to Marine Area Command are continuing inquiries into the circumstances surrounding the incident."

Family 'won't give up'

In a statement released through NSW Police, Mr Smith's family said they "haven't lost hope" and they "won't give up" on finding him

They asked people in the area to keep an eye out for anything that might assist in the search.

"We are deeply grateful for the overwhelming support we have received since Luke went missing on Saturday," the family statement reads. 

"We extend our heartfelt thanks to all the volunteers, emergency services, boaters, and members of the Lake Macquarie community who have dedicated their time and resources to the search efforts. 

"Your compassion and willingness to help have provided us with strength and hope."

The family said they wanted the community to prioritise safety when out on the water.

"It is crucial to wear life jackets and adhere to safety guidelines on the water," they said.

"Particularly in the Swansea Channel and surrounding waters, which can be hazardous, we implore boaters to exercise caution."

Mr Smith's family asked for privacy and space to focus on finding him and supporting each other.

A lakeside lantern vigil, arranged by Mr Smith's family, has been organised for Saturday at Marks Point.