It seems that the way most people do it is to create the particle hair on one character, then generate other characters in MakeHuman without adding hair, export them and import them into Blender, then copy the hair from the character you created it on to the new character. Presumably in your case you would make several characters with different hair and then mix and match them with the characters you generate.
This is exactly the reason I've been arguing for a structured way to reuse particle hair similar to the way polygon hair is available for reuse, even if the particle hair can be viewed in MakeHuman. If there is an easy way share hair I'm sure the variety of hair would soon increase. Right now I pretty much always use Short02 and am limited to varying the color, which isn't the best if there are multiple characters in a scene.
Anyway, I haven't found a way to create realistic hair like Short02. I'm going to go with particle hair for now. This was my amateurish first attempt:
As you can guess I'm hoping someone more talented will provide something better, but will probably have to try to learn to do better.
jujube told me about some software for producing good quality polygon hair, but it involved using Maya and a non-free addon.