A young man cycling near False Creek early Thursday morning is being hailed as hero for pulling out a man in the water clinging to a dinghy.

But as police revealed later in the day, the 29-year-old man is now a possible suspect in a rash of break-ins and thefts at marinas in the city.

The cyclist pulled over when he heard the groans of the man, near Spruce Harbour Marina, who looked like he'd been in the water for hours.

The cyclist parked his bike and waded into the water to help the man get out of the water.

Firefighters arrived around 5:30 a.m. and took over care of the soaked boater who was showing early signs of hypothermia. He was taken to hospital as a precaution.

The cyclist told CBC that the man in the water was only semi-conscious when he pulled him out.

The shy Good Samaritan declined to give his name but wished the CBC reporter a good day then got back on his bike and pedaled away.

Vancouver police Const. Brian Montague said the 29-year-old rescued man was also previously known to police and may have been under the influence of drugs or alcohol or both.

'We're looking into the possibility that the small boat he was clinging to was stolen," he said.

"We haven't been able to locate the owner just yet. But we have had a rash of break-ins and thefts from marinas as well as the thefts of small vessels like this summer, so it's something we're looking at. He's potentially a suspect in some of those now that we've found him in this situation."

No charges have been laid. CBC News has not been able to reach the man for comment.