In Raft, you'll get the coordinates to reach Varuna Point from Tangaroa, as your reward for dodging all those butler-bots. Approaching the twin strictures, you'll notice that it is in fact two submerged skyscrapers, remnants from the time before the flood.
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Your main objective here is to gain access to the smaller building; using the giant crane from the larger structure you'll be able to create an opening in the roof. Drop down, and you'll be rewarded with the coordinates for the next step in your floaty adventure. The main problem you're going to face is, of course, that the crane key is missing.
You can make your way up to the cabin of the crane now if you like, but it isn't much you can do right now. Instead, we need to focus on getting the crane key. The various doodads and macguffins we need to pick up are all located below the water. You'll notice there are two groups of brightly coloured, and very deadly, jellyfish under the water blocking two entrances. They will move, but only when exposed to light.
It's strongly recommended that you have oxygen bottles and flippers for this exploration. There are plenty of oxygen sources as you head deeper down, but you don't want to be caught short.
You need to fix the spotlight attached to the side of the building to move the jellyfish blocking the entrance to the circular walkway. There are four spotlight parts in total, and they're all inside the building with the crane. Head through the hole and follow the painted 'G' signs all over the walls; all the parts are fairly close together, so it shouldn't be too difficult to get them all in one go. Just make sure you're doing your best to kill off the angler fish that patrol the
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