Images circulating online showed the Air Niugini plane, from Papua New Guinea, sitting in shallow water just off the coast.
Micronesia is made up of four island states: Pohnpei, Kosrae, Chuuk and Yap with palm-shaded beaches, wreck-filled dives and ancient ruins.
Air Niugini is Papua New Guinea's national airline.
"We don't really know what happened. people were rescued by boats - 36 passengers and 11 crew were all rescued, only the plane is sinking right now", he said. Air Niugini management staff held a crisis meeting after the incident.More news: Trump says he wants two-state solution for Mideast conflict
The airline said in a brief statement that everybody aboard the Boeing 737 plane was able to safely evacuate, and the airline was making all efforts to ensure the ongoing safety of the passengers.
"Further information will be provided as it becomes available".
The Australian Broadcasting Corporation said nine people were taken to hospital for treatment.
In the pictures the aircraft is partially submerged, but has not sunk. The flight was landing.More news: Miami Heat are aggressively pursuing a trade for Jimmy Butler
The accident took place at the Chuuk global airport on the Weno island of the South Pacific nation of Micronesia. A cargo plane belonging to Air Niugini went off a runway at Madang Airport in 2013, but there were no casualties. All passengers and crew reported safe. Water was waist-deep in the cabin before rescuers arrived, he said.
Chuuk Airport has a single asphalt runway 04/22 that measures 1,831nm in length.
In 2009, both engines on a US Airways jet failed after striking a flock of geese during takeoff from New York's LaGuardia Airport.
Local boat owners and rescue teams rushed to the aircraft to get the passengers out.More news: Zverev seals Laver Cup win for Europe