Honda took a 39-30 lead at the turn behind the efforts of MVP awardee Reggie Licanda, Arnel Abellanosa, Jowel Jabadan and Jojo Romarate.
However, Hyle rallied back with Hyle Mariano and Junjie Punay sparking a 10-0 blast to grab the driver's seat, 59-58, with 2:02 left in the game.
Romarate, however, drilled in back-to-back baskets, while Bacalso later split his charities off a foul by Kim Cases to clinch the win for Honda.
Meanwhile, Harry Chiong romped away with the "Rookie of the Year" award. Chiong and Licanda also made it to the Mythical Five together with Abellanosa, Korkie Cabahug and Kristian Ceniza. Honda (64) - Bacalso 17, Romarate 14, Jabadan 10, Licanda 8 Chiong 8, Abellanosa 4, Sepe 2, Estrera 2, Paghubasan 2, Mascual 2, Servano 2 Hylen (62) - Mariano 18, Malig-on 11, Cases 10, Mancera 6, B. Jardio 6, N. Jardio 4, Quisada 2, Paquibot 2. Reyes 2, Punya 2, Shoji 2