Coast Guard spokeswoman Charly Hengen told KMXT that the Piper PA-32 is owned by Island Air.
The pilot and a mechanic were on a check run Friday when the accident occurred. Their names haven't been released.
Hengen said the plane had a mechanical failure while on approach. It landed in the water, about 50 feet from shore.
The two men aboard climbed out, waded to shore and waited for emergency responders.
A light sheen around the plane quickly dissipated.
The National Transportation Safety Board is investigating.
Investigator Clint Johnson says the plane suffered substantial damage.
Important warning about e-mails purporting to be from the adn.com staff.