The Seattle Times reported that the man's death was confirmed by Ballard Marine Construction, the company operating the boat.
The man was flown to Harborview Medical Center after spending about 20 minutes underwater near Alki Beach.
"That's a long time," Seattle Fire spokesman Kyle Moore told The Seattle Times. CPR was administered to him during a helicopter flight to the hospital, he said.
Coast Guard Petty Officer George Degener said the 30-foot aluminum boat capsized just before 2 p.m. while the commercial vessel was conducting a dive survey. Weather conditions may have contributed to the accident, according to the Coast Guard.
The Seattle area saw strong wings throughout Friday.
Degener did not have any details on the medical condition of the other three people pulled from the water.
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