Jim Thorpe, who tied for second last year and is coming off a victory at the season-ending Charles Schwab Cup Championship, was a stroke back along with his playing partner Allen Doyle.
Purtzer was strong off the tees, hit all 18 greens in regulation and putted just 28 times. His 62 was a stroke shy of the course record set by Loren Roberts when he won in 2006. It was Purtzer's 13th under-par round at Hualalai, where he finished fifth in his 2004 debut and ninth the following year.
The 56-year-old Purtzer birdied three of the first six holes and made a 15-foot eagle putt on the 551-yard seventh that was set up by a stunning shot with a rescue club. He made birdie putts inside 8 feet on Nos. 9-11, 13 and 15 to reach 10 under.
"That helps my scoring average a little bit. If I could just stop right now," said Purtzer, seeking his fifth Champions Tour title.
Last year, he beat Loren Roberts in a four-hole playoff at the AT&T Champions Classic and finished a career-best eighth on the money list.
The players tore through the meticulous, oceanside layout in calm conditions and slightly overcast skies that hid the peak of Mount Hualalai and provided a little relief from the sun.
"It was another day in paradise," said Weibring, who opened with a 64.
Purtzer said scoring conditions were perfect.
"When you get a golf course in as good as shape as this one is, the scores are going to be low," he said. "Everything about the golf course is as good as it can be."
He said his round is surprising because he had to take four days off last week after getting a cortisone shot in his left elbow.
"It helped my confidence," he said. "When you take three months off, you're not really sure how things are going to go. A round like today does a lot for your confidence."