The 63-year-old Trevino halved the 18th with Hale Irwin to extend the tournament. After Jack Nicklaus was eliminated on the second extra hole, the colorful Trevino picked up the decisive birdie at the third playoff hole, a 10-foot birdie putt at the par-four 17th, for the $100,000 final skin.
'I was amazed seeing the ball go straight in the hole,' Trevino said. 'I made a lot of crucial putts today, which is unusual.'
Trevino struck first with a 14-foot birdie at the opening hole of the Gold Course at Wailea Golf Resort to win the skin. He ran home a six-foot putt to halve the 11th with Hale Irwin and hit his second shot to 18 feet for a birdie at the par-4 12th to collect four skins and increase his winnings to $140,000.
Irwin, a three-time winner of this event, was relatively quiet on the front side but birdied the par-4 14th to win his first two skins. The all-time winner on the Champions Tour quickly overtook his competitors with a birdie at the par-4 17th to earn an additional three skins.
Irwin had a 25-foot birdie putt at the third playoff hole but missed, opening the door for Trevino.
'I don't like the taste of finishing second or third, but I still feel good about the way I played,' said Irwin, who finished second with five skins and $200,000. 'Lee played great. I haven't played with him and seen him hit so many good shots in a long time.'
Nicklaus had a huge birdie putt at the par-3 eighth to win seven skins and $160,000.
Arnold Palmer gave the fans a show at the par-4 sixth. After Irwin tapped in for birdie, Palmer drained a long birdie putt to halve the hole.