The sanctions freeze any US assets of the officials, prohibit them from carrying out business in the country and generally bar Americans from doing business with them.
There have been reports of China trying to hack foreign research for arriving at a coronavirus cure.
Some local residents fear China may use this as an excuse to collect DNA samples for surveillance purposes.
An activist claimed Hong Kong police used Israeli-made Cellebrite to hack his phone.
A police spokesman said the three men and a woman, all students, were suspected of being involved in an online group that pledged to use every means to fight for an independent Hong Kong.
The Five Eyes network is a post-WWII intelligence sharing framework composed of the US, UK, Australia, Canada and New Zealand.
"New Zealand can no longer trust that Hong Kong’s criminal justice system is sufficiently independent from China," Peters said in a statement.
The Yuen Long attack, and the police's apparent failure to prevent it, exacerbated tensions during protests last year, plunging the global financial hub into crisis.
"US citizens may be detained without access to US consular services or information about their alleged crime."