So how do you do it?

Prana showing off his whitewater dismount! I use this technique of holding the mat above the white water all the time when I am making my way back out through the broken waves.

Anyway, I know what I do in the following differing scenarios that I can think of
One pulling out of a broken wave - I usually perform a 180 and do a PWD (Prana whitewater dismount)
Pulling out of a wave about to close out - I squeeze hard and carve back through the wave or straighten up hard to get ahead of the lip
Pulling out of an unbroken wave that has lost its guts - I squeeze as required and carve over the back of the wave
Avoiding some dickhead that suddenly decides to share the wave with you - go under and past or squeeze hard and nose dive away from the perpetrator!