Police have identified the two people who died following a kayaking accident on Lake Tekapo this afternoon as overseas tourists.

They were two young men in their early 20's.

Inspector Dave Gaskin said the nine people who survived the accident were suffering from hypothermia and have been transported to Timaru hospital.

He said tomorrow investigations will start into how this incident occurred.

"They will be interviewed tomorrow, there will be an investigation team start off tomorrow and we will be carrying out that investigation to try and find out how and why this tragedy happened.

Police said some of the survivors made it to an island on the lake, and appear to have been rescued after gaining attention with smoke.

Locals said there has been a heavy presence of emergency services in the area, including helicopters and ambulances.

The company running the tour has been left devastated and does not want to comment as this stage.