The Venezuelan, a three-time winner on the circuit, was set to make his first start since the Mayakoba Golf Classic in December.
In a statement, the PGA Tour said Vegas will have the circuit’s “full support throughout his self-isolation period under CDC guidelines”.
Vegas joins a fairly long list of PGA Tour players to have tested positive for Covid since the circuit restarted last June.
World No 1 Dustin Johnson had to isolate in the build up to The Masters before his record-breaking victory at Augusta National in November.
Irishman Seamus Power, who was the first alternate, will replace Vegas in the field for the second event of the calendar year.
Russell Knox is flying the Saltire at Waialae Country Club in Honolulu, where the field is headed by Harrish English, last weekend’s Tournament of Champions winner in Maui.