A Chinese student has been found dead after disappearing during a kayak trip with six friends in Moreton Bay on Wednesday, sparking a major overnight search.

Authorities found the body of the 21-year-old, who lived in Brisbane, about 7.15am on Thursday after 14 Water Police and volunteer vessels searched through the night.

The group of kayakers had paddled from North Stradbroke Island to Peel Island on Wednesday and were making the return trip on Wednesday afternoon.

However, worsening wind, currents, rain and fading light resulted in the group becoming separated about 5pm and the search began about 5.20pm, when one of the group contacted authorities.

Two kayaks with four people were found near Rainbow Passage about 6.30pm and a third kayak with two people was found at 9pm near Amity Banks.

Paramedics met the rescued kayakers at Dunwich on North Stradbroke Island and took two of them, a man and woman, to nearby Marie Rose Medical Centre in a stable condition with hypothermia.

Police said there were no suspicious circumstances surrounding the young man's death and officers would prepare a report for the coroner.