It depends on how long you've been down there. If you have
just been dragged under water with your boat, it's probably safe to make a rapid ascent (don't hold your breath though) - in fact, diving school teaches emergency ascents for situations where no other options apply, even if the diver is in need of decompression. However, after about half an hour it becomes a serious problem that gets worse over time as gases start to infuse into the tissue.
If rescue (and access to a pressure chamber) is available right away, I'd make that ascent immediately even after being down there for a longer time. It beats drowning or CO2 poisoning.
Dive tables illustrate pretty well how the relationship between depth and time works: http://www.naui.org/tables.aspx