A man in a suit and open-necked shirt with sunglasses, next to a woman with a blurred face.

Ash Haigh has been missing since last Thursday. (Supplied: Facebook)

Queensland Police have suspended the cross-border search for Gold Coast fisherman Ash Haigh, after scouring 1,800 square nautical miles for the “very loved” family man.

Mr Haigh, 44, was reported missing last Thursday night after failing to return to the Runaway Bay Marina as planned.

His unoccupied boat was found drifting 50 kilometres south-east of the Gold Coast Seaway early on Friday morning.

Police described the boat as being in good condition, with no apparent reason why no-one was on board.

The boat’s inactive emergency position indicating radio beacon (EPIRB) was located around 25 kilometres south of Ballina, New South Wales, on Saturday afternoon.

Chief Superintendent Kylie Rigg said Mr Haigh was an experienced fisher, had appropriate safety gear, and that conditions on the water were favourable.

“As to how that EPIRB has ended up overboard, I don’t know,” she said.

“Sadly, through events that we are yet to establish — and perhaps we may not even be able to establish — that person is no longer on board that boat.”

Two fishing rods were missing from the boat.

While four marine rescue boats and one aircraft were deployed south of Point Danger yesterday, police announced that the search had been scaled back to a recovery operation after no signs of life were discovered.

It was formally suspended last night.

The large-scale air and sea search covered 1,800 square nautical miles between the Gold Coast and Yamba.

two people in formal wear smiling

Lauren Haigh described her brother as a “loved” family man. (Supplied: Lauren Haigh)

In a statement, Mr Haigh’s sister, Lauren Haigh, said “he is a very loved and special father, husband, brother, son and friend to many”.

“He was my first best friend growing up,” she said.

“We would like to thank everyone that has been involved in searching to bring him home.”

A Queensland Police spokesperson said they remained in contact with Mr Haigh’s family.

Chief Superintendent Rigg said the incident was not considered suspicious but anyone with information should contact police.

“Even if it’s the most smallest of information that you think may not actually be related,” she said.