Man rescued off Caloundra, Sunshine Coast, after falling off luxury yacht and clinging to navigation beacon

A Queensland man has been found clinging to a marine beacon off the Sunshine Coast hours after falling from his luxury yacht which ended up running aground.

The 13-metre boat was spotted by lifeguards off the north of Bribie Island about 4pm on Monday.

Its motor was still running but no on was found aboard except a dog.

An air and sea search was launched and involved Surf Life Saving Queensland jet skiers, the Westpac Lifesaver rescue helicopter, Water Police and coastguard members.