How do you say the verb 'to knit' in arabic (MSA)? Is it حاك?

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Yes, it's correct, to knit = حاك 
She knits a scarf = هي حاكت وشاحا (hiya hakat wishehan)

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to knit is يحيك    or يخيط  knitted is حاك 
so حاك is a past form

the girl is knitting. البنت تحيك   present

The girl kitted  البنت حاكت  past

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حاكَ يَحيك ، حِكْ ، حَيْكًا وحِياكةً ، فهو حائك ، والمفعول مَحيك ومَحْيوك

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Well, it could be translated as: 
حاكَ- يَحِيْكُ
or
حَبَكَ- يَحْبِكُ :)

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just a small note:
حاك is the past form of the verb. 
"يحيك"/ "أحيك"/"تحيك" are the present forms.