Warner hit a quick-fire 113 with Renshaw finishing on 167* as Australia end Day 1 at a commanding 365/3.
Hosts declared at 624/8 and ended up winning by an innings and 18 runs as visitors were bowled out for 163.
Hosts finish day at 278/2 after Azhar Ali's unbeaten 205 helped Pakistan to a big first-innings total.
Pakistan finish the day at 310/6 after good contributions by Asad Shafiq (50) and Mohammad Amir (28*).
Pakistan end the day at 142/4, losing Younis Khan in Misbah-ul-Haq before the rain came down at the MCG.
Australia still in control but visitors show character to end the day at 382/8, their highest fourth-innings total.
Visitors end the day at 70/2 in mammoth chase of 490 after hosts declared second innings at 202/5.
Pakistan 97/8 in response to Australia's 429 with Mitchell Starc and Josh Hazlewood taking three wickets apiece for the hosts.
Hosts ended the day at 288/3 after winning the toss with the captain unbeaten on 114, aided by Matt Renshaw (71) and Peter Handscomb (64*).