UPDATE: Nearly a week after three men were forced to swim for their lives to safety after the catamaran they were in started to sink is yet to be salvaged.
A crew from Marine Rescue Hervey Bay is heading out on Thursday to collect debris from the 17-metre vessel after it sunk last week.
A salvage operator is expected to head to the area to collect the remainder of the vessel next week.
EARLIER: A 17-METRE power catamaran sunk off the coast of Fraser Island in the early hours of Friday morning.
Marine Rescue Hervey Bay was called just north of Coongul Point on the western side of the island just after 1.30am.
Vice Commodore Jill Barclay said three men from the Gold Coast were on-board when the cat started filling with water.
The men managed to get off the vessel and swim to Fraser Island mainland before rescue crews arrived.
"We picked them up off Fraser Island and bought them back to Hervey Bay about 5am," Ms Barclay said.
"The vessel was taking on water and subsequently sunk, however it is still floating bow up in the water."
Ms Barclay said they had returned to the waters to collect debris but the remainder of the vessel would be in the hands of a professional salvage company and insurance.
There is no indication as to what caused the catamaran to sink at this stage.