The Hatteras Island Rescue Squad, Dare MedFlight, and U.S. Coast Guard have been searching for the individual using a variety of methods, including jet skis, boats, and helicopters.
The suspension comes about 11 hours after two men were reported clinging to an overturned boat.
Authorities were called to the beach around 5:40 p.m. Tuesday after two men were thrown into the water after their boat capsized in rough seas. One man was able to make it to a jetty.
Salisbury fire Chief Richard Souliotis said the man was transported to Anna Jaques Hospital in Newburyport. But while attempting to rescue him, the boat was struck by an eight- to 10-foot breaking wave and lost sight of the man.
A body was not recovered, according to Boatswain's Mate First Class Kevin Kramer of the Massachusetts Coast Guard. The air temperature was just under 50 degrees at the time of the search.
A Coast Guard helicopter searchers for a missing boater off Salisbury Beach
"We haven't had track of it or seen the boat since [May 26]", Coast Guard spokesman Jonathan Lally told the Palm Beach Post.
Neither boater was wearing a lifejacket.
The man who was rescued was described as being in his late 20s or early 30s and walking on his own power.
The Coast Guard said they suspended their search for the boater at about 7:18 a.m. Wednesday.