You can do that with the technique showed in this video -> (e.g in my vegetation package I use the same technique to let the grass sway when the player walks over it) 
The only thing that you have to do is to generate the wave effect in your material -> therefore you can just use the default waves + change the appearance of them till it looks like the effect that you want. Otherwise you could also do it with a particle system which gets spawned at the players position on the water surface.