The 32-year-old took the IAAF Silver Label race in a time of two hours, 14 minutes and 18 seconds ahead of compatriot James Mbugua (2:14:28) and Ethiopia's Deribe Robi in third (2:14:37).
"I made the mistake of making my move too early in the last two years and my opponents caught me and overtook me," Maisei said.
"This time I changed my tactics and made certain I timed my break better and then went all for it."
Maisei blamed the slow time on the tricky conditions.
"It was tough out there. It is not easy running inside a tunnel for almost three kilometres and the course is very hilly. Hong Kong is a hard race," he said.
In the women's race, Ethiopian Misiker Demissie became the first athlete to retain the title as she romped home in 2:30:49.
"It was a bit more windy than last year, which is probably the reason I went a bit slower, although I like racing in those conditions, it was good," she said.
The event also featured a 10-kilometre race which was completed by 101-year-old Indian-born Fauja Singh, the world's oldest marathon runner, who retired from running after clocking a time of 1:32:28.