The American started the day five shots behind leader Gary Woodland but finished one clear of his compatriot.

Schauffele had even opened his round with a bogey but two eagles and eight birdies helped him to victory.

Northern Ireland's Rory McIlroy started in second place, three shots behind Woodland, but fell away with a 72.

The 29-year-old's round left him 15 under overall, tied for fourth place alongside last year's champion Dustin Johnson and Marc Leishman.

"I obviously could have shot a better score, but I did what I wanted to do, gave myself plenty of chances, just couldn't get the ball to drop," McIlroy said.

But he added: "I don't think anyone could have lived with Xander today."

McIlroy was making his debut at the event, which featured 33 PGA Tour winners from the previous calendar year.

Justin Thomas hit nine birdies in his final round to finish in third place, four shots behind Woodland.

English pair Paul Casey and Ian Poulter both went round in 71, leaving them in 16th and 18th place respectively.

Schauffele is only the fifth player to hit 62 at the Kapalua Plantation course on Maui.