Spieth led the field in birdies at Kapalua on Maui. Although a few big numbers in the early rounds ultimately proved too much to overcome, he surged to a third-place finish with a final-round 65.
"We certainly had the firepower last week," Spieth said. "Just a couple of tough breaks and then a couple of bad swings.
"But we played well enough to win. I hit the ball well enough to win. Needed to make a few more putts, but been practicing hard the last two days here and feel like I've made some strides off of last week."
Spieth earned three worldwide victories in 2016 – including the Australian Open in November which was his first win since May.
But he couldn't recapture the remarkable form of 2015, when his five USPGA Tour victories included back-to-back majors at the Masters and US Open.