Police Commissioner Fuiavailili Egon Keil has confirmed David Paulo, 20, and Matthew Asimalu, 18, are in custody following the incident.
The Samoa Observer reports they are alleged to have entered a taxi parked in front of a Vaiusu store and put a knife to the driver's neck before ordering him to drive.
The driver told police that during the joyride he managed to drive his taxi into a ditch at Moata'a village and escape.
The taxi driver went to the police station and discovered a second driver had complained of two passengers he had taken from Moata'a to Vaiusu, who had run off without paying a fare.
Police were able to track the two men to their home using a phone had stolen from one of the drivers.
The pair are already on bail facing charges of burglary.