On the day of the event we left on an overnight cruise with 6 souls aboard. The vessel began taking on water after being at sea for about 14 hours. While the crew bailed/pumped water out, I turned the vessel back, took the sales down, and headed toward the closest port under motor power. USCG was made aware of the situation but was in a stand on mode as the situation seemed managable. Close to the chanel the situation continued to escalate to an unmanageable state. USCG was hailed via VHF MayDay call and the ACR epirb activated. USCG arrived onsite within 20 minutes and saved all souls aboard as the vessel sank. Weather was clear, with a south/south-east wind of roughly 15-20 knots, and a wave height estimate of 6-8ft.