"They then stole various items of property from the victims before fleeing in the red hatchback.''
Police said they did not believe it was a random incident.
After a number of searches at various residential properties in Auckland, police found all five offenders yesterday. One of the group was discovered at a property in Pt England about 4.30pm yesterday.
Authorities also found stolen property and more firearms.
Detective senior sergeant Glenn Baldwin, of Auckland Police, said: "Co-ordinated and clever policing meant we were able to arrest all offenders the day after it happened - that's an excellent result."
All five men will appear in the Auckland District Court today, charged with aggravated robbery.