Hi @Carl l and @usmarine88, welcome to the forums
This is an issue the team are aware of and are currently investigating. I have a Known Issues post on it here: [Known Issue][PS4/XB1] Loss of interactions and while we do not have any workarounds I will be updating that post if any are found.
Currently players are reporting this issue can occur in a cycle for them. Have you noticed if you stay in the game, do interactions come back?
You may also be able to interact with items close to or below the water level (bigger items may require crouching - have you found this to be the case in your game?
Please also let me know if you recall anything you did around the time (or shortly before) the issue triggered such as sailing, harvesting plants etc, and do you recall hearing any noises that seemed out of place?
I understand how frustrating this issue can be for players and any extra details you provide would be greatly appreciated as they can help the team in their investigation.