The pair issued a Mayday alert after their vessel started sinking about 150 metres from shore on Sunday afternoon, August 5.
Councillor Yvonne Boyle said: “I want to praise all those involved in this successful rescue effort. The lifeguards displayed great bravery and did not hesitate in putting their skills into action.
“Their quick and effective response showed again how valuable this service is to the local area.
“I hope the man and woman involved in the rescue make a speedy recovery after their ordeal.”