Despite the efforts, the boys were found dead.
Inspector Phil Gillbanks had said police and Fire and Emergency New Zealand staff did everything they could to find the boys in what were perilous circumstances.
“This was extremely tragic and sad, and we feel for the families.”
A Kawerau rafting operator who tried to help with the rescue said the area was a popular swimming spot for children
Kawerau Mayor Faylene Tunui sent condolences to the families of the two boys who died, saying the tragedy was every family’s worst nightmare.
Local kaumātua have performed karakia and a rāhui has been placed on the Tarawera River.
Police said the deaths would be referred to the coroner.