Officers have surrounded residential streets off Avenue Road and the Police helicopter from Bournemouth is overhead.
Witnesses say that 1 person has been detained so far, but the search continues.
Island Echo was first alerted to the incident at around 20:10 when multiple Police vehicles responded out of Bembridge towards Sandown.
UPDATE @ 21:20 – The National Police Air Service helicopter is now circling over the Appley and Elmfield area of Ryde having relocated from Sandown.
It is unclear at this stage if the 2 incidents are connected.
Hampshire Constabulary are yet to comment on tonight’s activity, but many are questioning whether or not it is related to this morning’s stabbing in Cowes.
UPDATE @ 21:50 – Both the searches in Sandown and Ryde have now concluded with all units – both on the ground and in the air – stood down.
NPAS Bournemouth have confirmed that they were involved in a search for a male suspect in Sandown.
The search in Ryde is said to be a separate search for another suspect.
Open areas have been cleared and enquiries continue.