Inside a father's heartbreaking search for his missing boater son

This is a rush transcript from "On the Record," July 28, 2015. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, FOX NEWS HOST: This is a Fox News alert. Right now, the clock is ticking. But a massive search still underway off the coast of Florida, two 14-year- old boys vanishing in the open ocean, while fishing in the Atlantic. And today, "On The Record's" Griff Jenkins joining the search aboard in a helicopter, with the father of one of the missing boys. Griff Jenkins joins us from Florida. Griff.

GRIFF JENKINS, FOX NEWS CORRESPONDENT: Greta, the Coast Guard tells me tonight as we enter the late evening of day five for the search of these two 14-year-old boys, accomplished boaters in their own right, but way in over their heads. The Coast Guard tells me that with every hour, the situation gets more dire. However, they will search through the night and into tomorrow with the full assets that they've had since day one, which is three Coast Guard cutter ships and three C-130 surveillance airplanes. The search took them as far north as 100 miles off the coast of Charleston, South Carolina today because the gulf stream heading that direction which would have carried them Jupiter, all the way up that way, a long way.

But what would you do if this was your son or daughter? Well, you would do what Blu Stephanos did. He got in the helicopter with his best friend, Paul, and since day one, he's spent countless hours over the sea. The magnitude of searching, Greta, these open waters is unbelievable. You can only give it justice by going out and seeing it for yourself. Blu Stephanos believes that the will of his son Austin and his best friend Perry has not been broken. They're still alive. And he's not given up on them. He took me out to search today off the Coast of Georgia. Take a look.


BLU STEPHANOS, FATHER OF ONE OF MISSING TEEN BOYS: I want the American people to know that I need their support more than ever. It's been a very difficult time for me, my family. These boys are very strong willed. And this is my son's playground, this ocean, but it can be pretty fierce at times. This time necessarily. But the kids are very strong willed. They have a YETI cooler, a 65-gallon cooler, they have three lifejackets, a throw cushion, and I know they've got the will, they've got the want, and they have the skills. So there's no doubt in my mind that they're still out there and they're still waiting to be found.

Austin is a very intelligent kid. He is always inventing things, coming up with things. And he is amazing, you know, amazing. I mean, MacGyver would be a perfect name for him. With this cooler and whatever other essentials he has, I believe the gold chain that matches mine and the saying that he wears that he can try to reflect light or this cooler, as far as the floatation of it. I believe this cooler could float them very well out of the water, especially if they had ropes that were tied around the cooler. It makes -- it makes a seesaw kind of motion, one kid on one side, one kid on the other side. I believe his capabilities and his -- his knowledge about being in the ocean and everything around is just overpowering me to know that he's still -- he's still out there, he's still alive.

Everything should be coming about. I just need the help of people to make this happen. I can't do this on my own. The Coast Guard is helping. We have a ton of -- a ton of people out there as far as the Coast Guard and Navy, but that ocean's so big. It's a needle in a hay stack. It's exactly what we're dealing with. It's not enough at this point.

JENKINS: It's important to note you're being extremely careful to not interfere with the Coast Guard efforts. They're doing a tireless job. You're coordinating with them where you're searching. But you with one of your best friends, Paul, an accomplished helicopter pilot, have said we're not giving up, we're not stopping, and this is what you've been doing since Friday afternoon.

STEPHANOS: That is correct. And that is -- you know, I mean, we have the drive. I know these boys do, too, you know. I'm not giving up. I won't give up. I need answers. And you know, hopefully, the Lord will show me - - show me the way and show me the light at the end of the tunnel here.


JENKINS: Both families asking for prayers from the entire country tonight as the Coast Guard searches through tonight and into tomorrow before reassessing. Greta.

VAN SUSTEREN: Griff, thank you. To note, there's no debris like a live preserver found floating anyplace and that's almost impossible to see. Right?

JENKINS: That's right. The Coast Guard found some debris, none of it matching the cooler like preservers or a floating device that they've identified, that these boys may have had, but again, they'll keep looking very far from home where the boys were last seen.

VAN SUSTEREN: All right. How tough for this family and the community. Griff, thank you.