Noren had a chance to win outright with a long eagle putt on the fourth playoff hole, but ultimately had to make a nerve-tester to continue the playoff after Day made a great up-and-down birdie from 100 metres.
"The short game wasn't something I was anxious about coming in this week", he said.
"I'm proud of these scores". He gave back to shots with bogeys at the 4th and 7th.
The 14-time major victor had his short game to thank after hitting just three of 14 fairways and nine of 18 greens.
Noren was seeking to win his first PGA Tour event, though he has won five times on the European Tour since July 2016.
At the time Woods completed his round, which finished with a birdie at his last hole, the cut line was at one under and the American was content with the spirit he showed having struggled in the early stages.
On Sunday, Day and Noren birdied three of five playoff holes at the scenic course adjacent to the Pacific Ocean.
LPGA: Brooke Henderson bogeyed the first hole to drop into a tie for the lead before the Pure Silk-Bahamas Classic was suspended for the day - and later cut from 72 to 54 holes - because of high wind that moved balls on an exposed green at Paradise Island, Bahamas.
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"It was windy today, " Henderson said.
"Just got a little skinny in the first cut", Noren told the Golf Channel afterwards.
Kim was among three golfers tied for sixth, four shots off the lead, entering the round, then shot a 2-under 70, with four birdies and bogeys on the 11th and 15th holes. Last year, she beat Lexi Thompson in a playoff. "I fought my tail off and it was good stuff". "It's not really bothering me".
"I try not to look at the leaderboard, so I was just hoping whatever was happening was in my group", Lincicome said.
Lexi Thompson was 3 under along with Ryann O'Toole, Danielle Kang, Luna Sobron Galmes, and Wei-Ling Hsu. Palmer hit wedge to 2 feet for birdie for a 72 to get into the playoff.
With five extra holes not enough to throw up a victor of the Farmers Insurance Open, the Australian former world No.1 faces a nervous overnight wait.
His one-over 73 on Saturday featured three bogeys and left him on three-under, eight shots behind Swedish leader Alex Noren.
He remained 1-over with pars on the next three holes.
The four-time major champion then recovered with five birdies on the back nine for a 4-under 68 and 19 under overall that put him one behind Li.