UPDATE 5PM: LIFE savers have closed Torquay beach for the day after a hammerhead shark was seen about 50m offshore.

The shark was first spotted about 2pm and the beach was closed.

Surf patrols reopened the beach about 3.30pm after no further sightings of the shark.

Just minutes later the flags were down again after life savers saw the shark offshore once again.

About 10 people were swimming at the time.

Crews conducted patrols in the inflatable rescue boat and saw the shark once again.

The decision was made to close the beach for the day.

UPDATE 3.45PM: Torquay Beach has been closed, reopened and then closed again after two shark sightings on Sunday afternoon.

A hammerhead shark has been spotted off in the water.

Patrols are being conducted in the area.

EARLIER: Torquay Beach has been closed after reports of a hammerhead shark sighting near the Hervey Bay Surf Life Saving Club.

Surf Life Saving Queensland tweeted news of the closure at about 2.30pm on Sunday afternoon.

The Chronicle understands the beach closed about 2pm.

A second sighting of a tiger shark was recorded at Tooan Tooan Creek.

Inflatable rescue boats are conducting patrols in the area.

More to come.