An uncle of world champion Tasmanian axeman David Foster is feared dead after being taken by floodwaters.
Trevor Foster, 81, was swept away from his Ouse property on Monday morning and authorities have been unable to find him.
Search and rescue crews, with the aid of a helicopter, spent a third day looking for Mr Foster on Wednesday.
Police have found a hat they believe Mr Foster was wearing and will wait for DNA testing to confirm that.
Authorities say they will now focus on recovery efforts.
"Sadly, despite our considerable efforts we must be realistic that there is little hope of finding Mr Foster alive," said Inspector Matthew McCreadie.
David Foster said his uncle's wife of 60 years saw him being swept away.
"It's very sad to finish that way in life," he told the Nine Network.
Police also hold grave concerns for another man swept away by floodwater in Evandale on Tuesday morning.
A chopper and ground crews continued searching for the 63-year-old on Wednesday, and found the van he had been driving but there was no sign of him.
Police were unable to recover the van because of floodwaters.
"We do hold grave fears, and as time passes those fears worsen," Police Commander Brett Smith told reporters in Youngtown.
"However, it doesn't dampen our efforts in attempting to get a resolution."
The floods have also claimed the life of a 75-year-old woman after her Latrobe home was inundated on Monday.
While dangerous floodwaters have peaked in Launceston, the Tamar River's high tide on Wednesday afternoon has caused further flooding in Seaport, the SES urging people to stay away from the area.
Authorities are also monitoring other at-risk areas to see if receding waters could back up.
They were waiting until after the high tide to decide if it was safe for residents from the evacuated town of Invermay to start returning home.
Locals are being urged to remain vigilant.
"There is the potential that people may believe the situation is receding," Mr Smith said.
"It is not."
A major flood warning remains in place for the South Esk and Meander Rivers.
Roads and about 200 homes have been affected by the Tasmanian floods, and bridges have been damaged.
Premier Will Hodgman visited flood-affected areas in Launceston and Tasmania's northwest on Wednesday and says his government has been working with the Commonwealth about federal assistance.
"We expect to make an announcement about further support very soon," he said.
Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten were expected visit flooded parts of Tasmania on Thursday.
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