now we know why she didn't have her reg in her mouth. She was yelling for assistance.
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From that article and other updates, it does sound like it was indeed swell related. Excerpting about the fully clothed bystander who tried to help them...
No clue yet as to why the student was unconscious, or why the instructor didn't ditch weights for both?Mr De Santis managed to drag the pair back to the ladder but the force of the waves sent all three crashing into the pier’s concrete piles.
With one arm clung around the ladder and the other tightly gripped to the student and his instructor, Mr De Santis tied ropes around them and tried to put the man into a life ring.
“The waves were just eating us up and down. We kept going under and every time the water would retract I’d tell her ‘breathe now, breathe now’ before we got slammed by the next wave,” he said.
“She was getting tired and I just told her to hold on to the ladder. I had to make the decision to let go of him as it was too late. He was already gone.
...the information so far there is no evidence that she didn't inflate or drop their weights.
I'm just speculating, however, while there's no information on what exposure suit she was/wasn't wearing, I don't think she would have, "sunk below the surface," as reported, if she had established positive buoyancy.