Hurricanes backrower Du'Plessis Kirifi was immovable at the breakdown, helping the Reds slide to a 2-4 record from their past six games after leading the competition less than two months ago.
It was the Hurricanes' 10th consecutive win against the Reds since 2013.
Victory jumped them from fifth, shunting Les Kiss's side out of the top four by one point ahead of the new six-team finals format.
Fourth place is significant, given the highest-placed loser after week one of the finals will still go through to the semi-final.
The Reds at least collected a bonus point in the loss, but will need to beat Fijian Drua in Brisbane next week and have other results go their way to regain a top-four berth.
Hurricanes No.10 Ruben Love scored in the first minute when a deflected grubber fell into his path, only for the Reds to reply through Tate McDermott two minutes later.
A pair of successful Tom Lynagh penalty kicks - incredibly the first attempted by the Reds all season - looked to have steadied the hosts.
But three tries in 10 minutes gave the Hurricanes an 11-point buffer at the break, including halfback Cam Roigard chipping and regathering for a brilliant solo effort.
The Reds came out of the gates well, with Jock Campbell busting through to set up McDermott's second try and make it a six-point game.
Queensland then went ahead by one after going 20 phases off their own try-line for a brilliant try, finished when Joe Brial carried three men over the line.
But knock-ons from Harry Wilson and Hunter Paisami, the latter with two men free on his outside shoulder, proved costly.
Fehi Fineanganofo planted his second try of the game as the visitors reclaimed a four-point lead with 15 minutes to play.
Kirifi came to the fore, disrupting another surging Reds charge when he won a penalty at the breakdown to kill of Queensland's last-gasp effort.
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