The accident occurred on Friday morning local time.
28 people, including two crew members, were on board the boat.
According to ABC, sea rescue aircraft are assisting in the rescue work and several people have been transported to a nearby hospital in Kimberley, which has increased its preparedness to handle the injured.
The Kimberley Coast and the Horizontal Falls tourist attraction in Western Australia is a popular tourist destination.
However, the coast is described as "treacherous" as high tides, eddies and strong currents are a common phenomenon.