The father and daughter recovered from the sea near Ballydehob in the early hours of this morning have been named locally.
The man is a farmer called Martin MacCarthy and his daughter is three-year-old Clarissa.
Post mortems are being carried out on their bodies.
It is understood the girl's mother, Rebecca, was on Audley Cove, just yards from the farmhouse at Foilnamuck, when the bodies were recovered from the water in the early hours of the morning.
She had raised the alarm around midnight, sparking a garda search.
The farm house belonging to the family of the tragedy. Pic: Dan Linehan
The post mortems are being carried out by Assistant State Pathologist Dr Margaret Bolster, and this afternoon the area around the farmhouse and the cove remained sealed off.
Locals have spoken about their shock at what gardaí are describing as a tragic incident.
Many locals have said Mr MacCarthy, who was 50, was a very hardworking and popular figure in the Ballydehob area.
Others said Rebecca, who is understood to be in her twenties and who is originally from America, is well-liked in the area and that the family seemed to be very happy.