One of the men was found carrying a large knife and the other a small axe, while cannabis and synthetic drugs were also located.
They both are expected to appear in Hastings District Court at a later stage.
Detective Inspector Rob Jones said Eastern Police continue their appeal for information from the public about any suspicious or concerning activity, particularly in relation to gang-related issues and the shooting in Taradale on Sunday.
"This is a difficult time for our communities, who are understandably concerned about recent events.
"We are committed to preventing and investigating organised crime and gang-related offending. Police remain in contact with senior gang members, and are working with them and other community groups to diffuse current tensions.
"We are also meeting with community representatives in Ruatoria and Taradale over the coming days.
"Staff across the district continue to investigate recent firearms incidents and a number of arrests have been made."