SAN FRANCISCO -- Two people were rescued and one person went missing after a 20-foot sailboat capsized off the Northern California coast Wednesday afternoon, the U.S. Coast Guard reported.

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Video On Demand: Sailboat Capsizes Off Ocean Beach -- Two Rescued, One Missing

Rescue authorities received reports that the missing person was tied to the boat when it capsized around 2:30 p.m. near San Francisco's Ocean Beach. Two people were rescued shortly afterward and were taken to University of California Hospital in San Francisco.

The U.S. Coast Guard said late Wednesday it had called off the search for the third occupant of the sailboat.

"We don't know if he tethered himself to the boat or someone else did," said U.S. Coast Guard spokeswoman Clare Miranda. Miranda said the circumstances leading to the incident are still under investigation.

The U.S. Coast Guard recently issued a weather warning because of high winds and 13-foot waves.

Names of the people on the boat will not be released until relatives have been notified, Miranda said.