According to a tweet from the Coast Guard, the search is occurring three miles off the coast of Lake Worth.
The three people aboard the boat notified the Coast Guard at about 2:07 a.m.
As of 9 a.m., there is still a heavy Coast Guard presence off the coast of Palm Beach County looking for the boaters.
The Palm Beach County Sheriff's Office is also assisting.
A MH-65 Dolphin Coast Guard helicopter crew and a 45-foot Coast Guard boat are helping in the search.
Boaters Rescued Off Fort Pierce
In a separate case, Coast Guard officials said they recused three people from a disabled boat about 34 miles east of Fort Pierce on Monday.
At about 11:30 a.m. Monday, the crew of a passing freighter notified the Coast Guard of a disabled 40-foot sailing vessel with three people aboard near the Fort Pierce Inlet. Watchstanders diverted the Coast Guard Cutter Robert Yered crew to the scene.
The cutter arrived and safely transferred the three people to the cutter with no injuries.
The cutter took the vessel in tow and while towing the vessel a reportedly large swell hit the sailing vessel, which parted the towline.
Coast Guard crews said they are currently searching for the vessel.
Stay with WPTV.com and NewsChannel 5 for more details as they become available, and refresh this page for updates.