The Capitals made a respectable 170-7 from their 20 overs after being asked to bat first by the Warriors.
Englishman Sam Billings led the way for Dubai with 52 while Zimbabwean Sikandar Raza hit 48 against 3-28 from Australian Daniel Sams and a pair of wickets, each, for Chris Woakes (2-21) and Maheesh Theekshana (2-32).
The Warriors then reached 171-5 with seven balls to spare to seal the win.
Charles needed only 51 balls to make 93, hitting eight fours and three sixes in the process.
He was supported by some good late cameos by Basil Hameed (24*) and Daniel Sams (16*).
Dushmantha Chameera led the way with the ball for the Capitals with 4-28 from his four overs.
After winning the toss and choosing to bat first, the Capitals were reduced to just 104 all out off 18.2 overs.
Sikandar Raza (22), Roelof van der Merwe (21), David Warner (16) and Rovman Powell (10) were the only Capitals batsmen to scratch double figures.
Theekshana produced a masterful spell of bowling to take 4-20 from his four overs while being well supported by Daniel Sams’ 3-28 off four.
The Warriors then needed only 13-1 overs to reach 105-1 and secure their third win in five games.
Charles top-scored with an unbeaten 43 off 33 balls including four fours and one six. Joe Denly was Charles’ partner at the crease with an unbeaten 23 off 16 balls. Earlier, Niroshan Dickwella made a 30-ball 37.
After being sent to bat, MI Emirates led by top scores of 42 by Andre Fletcher and Kusal Perera respectively, and 37 from Pooran, posted 180-7 from their allotment, before Hosein bowled with skill and accuracy to grab 4-23 in restricting the Warriors to a paltry 74.
Scores: MI Emirates 180-7 (20 overs); Sharjah Warriors 74 all out (12.1 overs)
Hosein first accounted for fellow West Indian Johnson Charles (one), who for the first time since the start of the tournament, failed to get in on the runs. The Trinidad and Tobago left-arm spinner then snared another three wickets -Joe Denly (six), Basil Hameed (zero) and Daniel Sams (zero) -in the eighth over.
In fact, Hosein thought he had a fourth in the over and, by extension, the first hat-trick in ILT20 history when he had Englishman Chris Woakes adjudged leg-before-wicket. However, the decision was later overturned on review, as the ball pitched outside the leg stump.
New Zealander Martin Guptill (17), Sri Lanka's wicketkeeper/batsman Niroshan Dickwella (22) and England's Lewis Gregory (10), offered minimal resistance in the Warriors dismal innings.
Earlier, 'Spiceman' Fletcher and Sri Lankan Perera put together a 92 second-wicket stand that was the foundation of the MI Emirates innings. Fletcher slammed four fours and two sixes in his 31-ball 42, while Perera had three fours and three sixes in his 25-ball 42.
Pooran chipped in with a 37 off 29 balls, which includes a solitary four and two sixes, with Australian Tim David being the next best scorer with a 16-ball 20.
Pakistani Muhammad Jawadullah was the pick of the Warriors bowling with 3-31 from his over overs.
With the win, MI Emirates remain atop the standing on six points, the Warriors are fifth on two points.
The pair will join the likes of Andre Fletcher, Kieron Pollard, Dwayne Bravo, McKenny Clarke and Nicholas Pooran on the MI Emirates roster.
Elsewhere, Johnson Charles will join the Sharjah Warriors, who also retained Trinidadian all-rounder Mark Deyal ahead of next season’s tournament.
Dominic Drakes will don the colors of defending champions, Gulf Giants, alongside Carlos Brathwaite and Shimron Hetmyer.
Brathwaite was the man of the match in this year’s final as the Giants beat the Desert Vipers by seven wickets.
The 2024 season is set to get underway on January 13.
