Hoffman, who held the lead after two rounds along with Steve LeBrun and Kevin Streelman, ended two shots up at 11-under 202 after carding a bogey-free round that included five birdies.
Webb Simpson, meanwhile, registered the day's low round of 6-under 65 to move into sole possession of second place at 9-under at Harbour Town Golf Links.
Streelman turned in a round of 2-under 69, ending Saturday alone in third place at 8-under.
LeBrun tumbled to an even-par 71, finishing in a eight-way tie for sixth at minus-6.
Swim Week Miami Beach 2014 [PHOTOS]