Of course! That's why we wear all the good gear. A lot of the time I am actually surfing, so most of the time I am in the water. I've been surfing in 35degree weather and 34degree water and was fine in my 5mil hooded wetsuit, booties and mits. Sometimes I even get warm! With the proper gear, no unfrozen water is too cold!
RE: Cold Weather Paddling - What you need to know to get out there, comfortably!