Divisional Controller at Valentia Coastguard John Draper said that the fact they were keeping afloat on their paddle boards was a factor in their survival: "It could have been a different story if they had been immersed in water all night".
A relative of the women raised the alarm and the Irish Coast Guard launched a search and rescue operation which continued throughout overnight.
According to RTÉ News, the 17-year-old and 23-year-old were found clinging to a lobster pot in the sea about two miles from Inis Oirr island and were rescued by local fishermen.
Local volunteer coastal search groups including the Oranmore Maree Coastal Search Unit have also joined the effort.
Patrick told The Hard Shoulder he heard about the missing women early on Thursday morning. They had drifted nearly 20 miles from where they had originally set off.
"The amount of people on the water is absolutely phenomenal and is testament to the people of north Clare and Galway Bay that we ended up with this result".
"With the wind and just predicting where they did travel - or would go - if they were sitting up on the boards, that's where we thought they would [be]".
"They were definitely in shock but the weather is warm so they were lucky", he said.
"That's the thing, if you keep your head clear and not panic".
He said the pair were "waving their paddles up in the air" when they spotted the fishermen.
"We got them inside, got them to sit down on the wheelhouse floor there just for a bit of comfort because it was still a bit choppy. We put hats on them, wrapped them in jackets to get them warm straight away".
"That saved their life as much as we did, getting them in the boat, really they would have went out to sea".
On social media, the coastguard thanked everyone who assisted.
Barry Heskin, from the RNLI, said tears were shed and his team was "jumping around the station" when news came back that the rescue had been successful.