The four died on Monday afternoon when their chopper lost its main rotor blades and crashed heavily onto a sandbar.
The pilot of the other aircraft managed to land on the bar despite major damage to his cockpit. Both aircraft, operated by Sea World Helicopters, were on sightseeing flights.
Those killed were British-born pilot Ashley Jenkinson, 40, Ron and Diane Hughes, 65 and 57, from Liverpool in the UK and Sydney mother Vanessa Tadros, 36.
Ms Tadros's 10-year-old son Nicholas and Geelong mother Winnie De Silva are both in critical condition in hospital.
Ms De Silva's son Leon, nine, was also on board and treated for serious injuries.
The second helicopter's windscreen shattered, but the 52-year-old pilot landed it on the sandbar, with five of the six people aboard escaping with glass shrapnel wounds.
The passengers from the second chopper included a 27-year-old West Australian woman and two New Zealand couples travelling together - a 44-year-old man and a 43-year-old woman, and a man and woman aged 48 and 45.
Mr Jenkinson, a Gold Coast father who had instructed numerous novice pilots, was remembered as a "great mate" and "an absolute legend".
Andy Taylor recalled the bond forged when the pair assisted victims of flooding in northern NSW in 2022.
"Today we lost one of the biggest legends, Ash Jenkinson, you were a gentleman!!" he said.
Colleague Penny Wilson said Mr Jenkinson had "such golden of heart, cheeky sense of humour and always such a laugh to be around".
"An amazing pilot. Always so kind, helpful, and supportive. A true gentleman, and always willing to lend a hand," former colleague Lucy Kuhn said.
The Australian Transport Safety Bureau is probing the crash, particularly what was happening inside the two cockpits at the point of impact, and it has salvaged both helicopters from the sandbar.
ATSB Chief Commissioner Angus Mitchell said Mr Jenkinson's aircraft had taken off and was in the air for less than 20 seconds before its main rotor blades hit the cockpit of the second helicopter, which was coming in to land.
"Now, exactly whether that was the very first point of impact - we're yet to determine," he told reporters on Tuesday.
"But that in itself has led to the main rotor and the gearbox separating from the main (Mr Jenkinson's) helicopter, which then had no lift, and has fallen heavily to the ground."
Mr Mitchell said it was a remarkable achievement for the other pilot to land despite the damage to his aircraft, and his actions had helped avoid a far worse situation.
"When any aircraft accident happens, there are enormous forces at play, and particularly helicopter collisions," he said.
"So the presence of mind to be able to land that helicopter, particularly considering the damage that we know has occurred on that front lefthand side of the helicopter, it does appear have been a remarkable job to have got it down."
Sea World Helicopters, which operated both aircraft, and Village Roadshow Theme Parks offered condolences to the victims, their families, and guests and staff at Sea World who witnessed the crash.
"We are providing support to our team members who have been emotionally affected by the tragedy," Village Roadshow said in a statement.
Acting Premier Steve Miles said the state was grieving through another tragedy.
"Our thoughts and prayers are with the families and loved ones of those who lost their lives, as well as those who are currently receiving treatment for the injuries," he said.
Prime Minister Anthony Albanese said Australia was shocked by the tragic incident.
"My thoughts are with all those affected, including first responders, and my deepest sympathies are with those who are grieving," he tweeted.
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