Newcastle beaches remain closed as a shark continues to lurk near the coast for a fifth day.

Newcastle beach inspectors say it's too risky to reopen beaches with a five-metre shark lurking near the coast for a fifth straight day.

A great white shark of this size could bite someone in half, says Nobbys Beach inspector Paul Bernard.

"You don't get a second chance with these things, [a] bite can be fatal," he told AAP.

"We've never had a shark this size hanging around."

The inspector, who was just metres away from the shark during a jet ski beach patrol, said it had been sighted numerous times.

The shark was last seen by water police in a boat at about 2.30pm on Tuesday at Burwood Beach, near Merewether Beach where it was first sighted on Saturday afternoon.

As a result, beaches have remained closed for a record fifth day in a row.

Mr Bernard said the council was taking the decision seriously, especially as beach kiosks and businesses could be affected.

"Would I go into the water? Would I put my kids in the water? No," Mr Bernard said.

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Newcastle beaches might stay closed