Maillet struck first, registering his ace on the 186-yard, par three fifth hole. His seven iron shot landed inches behind the hole and backed up into the cup.
Three holes later, Makinson flew his shot into the hole with an eight iron on the par three, 159-yard eighth hole.
Neither golfer had ever hit a hole in one before Friday.
There have been three golfers to hit a hole in one in competition for the Musketeers, Lloyd Faulkner in 1989, John Ritter in 1994 and Steve Dixon in 1997.
The Northern Intercollegiate is the second tournament of the year for the Musketeers. In the first tournament of the season, XU finished second in the Mid Pines Intercollegiate with a 54-hole school record 28-under 836.
Maillet tied for sixth in that event with a 5-under 211. Makinson tied for 19th with a 2-under 214.
Xavier tees off in the Northern Intercollegiate with a shotgun start at 8:30 a.m. Saturday. The Musketeers will be paired with fellow 2003 NCAA participant Penn State and tournament host Michigan.