Qld town searches for well-respected diver

A diver missing for more than 48 hours from a north Queensland wreck has been described as a well-respected and committed resident of his small town.

Steven "Fozzy" Foster, 54, went missing while diving with three other divers at Lady Bowen wreck, near Mission Beach on Tuesday afternoon.

A search involving divers, police, the coast guard and aircraft has failed to find any trace of the man, who owns a Mission Beach water taxi company.

Local councillor and Mr Foster's friend Alister Pike said about 20 residents have volunteered their boats, and in one case, their plane to search for the man.

"Mission Beach is a small town and people tend to look after their own," Mr Pike told AAP.

"He is well regarded and definitely a significant personality."

Search crews have been scouring a more than 150sq km area for the man, who was involved in a local marine committee with the region's mayor.

"I've found him to be easy going company and very committed to Mission Beach," Cassowary Coast Mayor Bill Shannon told AAP.

"Like everyone else ... I'm feeling this loss."