Officers say the pair ended up in the water at around 9:30 p.m. Sunday, and crews scoured an area near Westham Island in Delta overnight.
Staff Sergeant Heath Newton says the woman was found during the probe and is now in stable condition.
A search of the water and shoreline resumed Monday morning in attempt to find the man who tried to help her.
The coast guard is using a hovercraft and police are involved in the effort. (CKNW)