A sea and air search is underway after two men who failed to make contact after setting out on a surf ski trip around Stradbroke Island.

The pair aged in their mid-to-late 20s left the shore at Dunwich on the western side of the island bound for Cylinder Beach to the north at 10:30am on Saturday.

They have not been seen since and were not carrying any food with them.

A search involving a fixed wing jet, helicopter, water police and marine rescue is expected to continue into the night.

A hazardous surf warning is in place for much of southern Queensland, including Fraser Island and the Sunshine and Gold Coasts.

Surf Life Saving Queensland advised those planning to cross shallow water and ocean bars to consider changing or delaying their voyage.

The search comes after a man in his 50s was rescued when his boat started sinking in waters off Cotton Tree Park on the Sunshine Coast.
He was transported to hospital in a stable condition.

-AAP