Two early tries from Adam Swift and Lance Hohaia gave the Saints an early lead in a tight first period.
However, Richard Whiting touched town to keep Hull in touch with the visitors heading into the break.
Hull improved considerably in the second half and a Richard Horne try brought them back on level terms with the visitors.
Jon Wilkin put St Helens ahead again before Danny Tickle immediately replied for Hull.
In the final minutes Tickle thought he had won the match for Hull with a goal but Makinson's last minute effort ensured St Helens went home with a share of the points.