A drunk pensioner terrifyingly drove her SUV off a wharf and into the sea before bystanders mounted a dramatic rescue effort to save her from the sinking car.

CCTV footage shows the drunk driver smashing through a glass bike shelter before falling into the water at the main passenger ferry terminal on Matiatia wharf, Waiheke Island, New Zealand, on Wednesday evening.

The four-door silver SUV can be seen driving onto the pavement and narrowly missing a stationary bus as it races towards the sea.

Metal and glass from the bike shelter smash into pieces as the car ploughs through it.

The car remains airborne for a moment before it tilts forward, crashing head first into the water.