HELICOPTERS, boats, lifeguards and police stopped searching for a missing swimmer at Burleigh Headland after it was discovered the man was not missing.

Queensland police have confirmed the search for the man who disappeared under a wave about 2pm on Monday concluded about midday yesterday after police were advised by two witnesses that the man had been rescued yesterday afternoon.

The man was pulled to safety by a member of the public on a surfboard who saw the man in distress and helped him back to the beach before lifeguards were deployed.

Inspector Troy Lehmann said the man, described in his 20s and wearing board shorts, used his arms to wave to signal he was in trouble.

“A male person was seen to enter the water from the rocks.

"He was seen to get into difficulties, he signalled to people on the beach,” Insp Lehmann said.

“We had a report that a person on a longboard came to the assistance of the man prior to the lifesavers being deployed.”

Insp Lehmann said until the reports were confirmed, the police continued their search.

The search, which began on Monday afternoon, failed to locate any sign of the missing man and the police had not received any missing persons report or located any abandoned personal items.

The Monday evening search was suspended just before 5pm due to rough surf conditions and failing light.

The search resumed first thing yesterday morning, but was called off about midday yesterday after the police were advised of two witness reports verifying the man was rescued by a member of the public in the surf while authorities were being alerted.