Luiten holed a 4 iron shot from 248 yards for a 2 on the par-5, 560-yard 10th hole as he moved to 7-under 137 for the tournament as stiff winds continued to keep scoring relatively high.
Defending champion Louis Oosthuizen shot a 3-under-par 69 Friday and Tommy Fleetwood matched Luiten's 65 for a three-way tie for first halfway through the tournament.
Victor Dubuisson turned in a 69 in the second round and is alone in fourth place at 6-under and Matteo Manassero is at 5-under for 36 holes after a 67 Friday.
First-round leader Raphael Jacquelin was 2-under early in his round but wound up with a 1-over 73 and slid back into a tie for sixth at 4-under.
After an opening nine that featured birdies at the par-5s and a bogey at a par-3, Luiten powered his drive more than 300 yards on the 10th and choose the 4 iron for his second shot.
"Yeah, my first albatross," he said. "I hit a 4 iron and basically went straight at it, just pitched exactly where I wanted, just front of the green, and then hopefully releases up the slope and that's what it did.
"It went straight at the pin and it went in so, yeah, it was a good feeling."
He had a pair of birdies, including at 18, and a bogey the rest of the way.
Fleetwood was even through five holes, with a birdie at the third and a bogey 4 at the fourth hole, but jumped up with three birdies over Nos. 6-9. Back-to-back birdies at 14 and 15 left him with a share of first.
Oosthuizen had four birdies and a bogey at the par-5 eighth through 10 holes and posted eight consecutive pars to complete his second round.
Swim Week Miami Beach 2014 [PHOTOS]