Meanwhile, tropical cyclone Hamish has been downgraded to a category three as it continues to be torn apart by fierce atmospheric winds.

Australian Maritime Safety Authority (AMSA) spokeswoman Tracey Jiggins said one fisherman had been winched to safety, but there was no sign of his two crewmen or their trawler.

Ms Jiggins said an Australian Defence Force C-130 Hercules had rescued the man 220 kilometres off the coast, nearly 24 hours after AMSA received a distress signal from the trawler yesterday.

Bureau of Meteorology forecaster Jim Davidson said a cyclone and a high pressure system in the Tasman Sea are combining to generate storm tides and gale force winds from Sandy Cape near Hervey Bay to the NSW border.

Mr Davidson said wind gusts would whip up in the region within the hour with high tide also expected about midday.

"Conditions will be at their worst from now until lunchtime," he said.

The cyclone is located 290 kilometres east of Gladstone and 140 kilometres northeast of Sandy Cape, near Hervey Bay and moving south-east at 11 kilometres an hour.

Damaging winds associated with Hamish, currently battering the northern part of Fraser Island, are not expected to die down over the next 48 hours.

However, the cyclone warning for other offshore islands south of Yeppoon, including Heron Island and Lady Elliot island, has been downgraded to cyclone watch.