UPDATE: Far South Coast director of lifesaving Cheryl McCarthy said it was an "unusual incident" which required a team effort from multiple agencies.
"Bermagui surf club was notified just after 6am, responding to the scene and assessed whether they could assist in getting a tow line to the vessel," she said.
"Maritime and police boats can't get in close enough; our advantage was having boats that can work effectively in the white water."
Ms McCarthy understood it was a local Bermagui fishing boat, with four crew on board.
She said the crew used their tinny to bring a towline to shore.
"The first towline snapped, so they were going back and forward trying to hook up different lines when they ran out of fuel," Ms McCarthy said.
"I looked over and saw one of them paddling with a shovel."
The stricken vessel was taking on water, Ms McCarthy said Bermagui Rural Fire Service came to assist with their portable pump.
"Bermagui RFS brought a pump down which managed to keep steady with the water being taken in the boat after grounding.
"The RFS assistance with the pumps certainly gave us enough time to make a plan."
Ms McCarthy said lifesavers were on standby throughout the day for medical support and backup.
"Fortunately, everyone was safe," she said.
EARLIER: Fortunately no injuries were reported after a fishing boat was beached on the Far South Coast, although it is expected to take time to remove the vessel.
A Transport for NSW spokesperson said at 6.20am on Thursday an 18-metre timber fishing vessel, the Salvatore V, ran aground about 10kilometres north of Bermagui, at Haywards Beach, after returning from sea.
The spokesperson said four people were on board at the time, but no injuries were reported.
NSW Maritime was leading the response operation and was working with the owner, who is insured, to assess the extent of damage to the vessel and coordinate a salvage plan to remove the vessel when conditions allow, they said.
"This will include the removal of any fuel and pollutants," the spokesperson said.
"There are currently no reports of pollution from the vessel.
"However, due to its size and location, it is expected to be a complex salvage operation."
NSW Maritime will continue to ensure the area remains safe and monitor for any pollution.
"A clean up notice has been issued by NSW Maritime to the owner," the Transport for NSW spokesperson said.
NSW Maritime was working with supporting agencies including NSW Police Marine Area Command, Australian Maritime Safety Authority, Environment Protection Authority, Fire and Rescue NSW and National Parks and Wildlife Service.
THURSDAY: A fishing boat washed ashore on the Far South Coast on Thursday.
The large boat was beached on Haywards Beach, between Camel Rock and Bermagui.
In the afternoon, Marine Rescue Monaro regional operations manager Glenn Sullivan said the vessel was already aground and Marine Rescue was not activated.
He said the owner was liaising with water police and Maritime NSW, as he understood it was "a salvage job".