hiit aims to burn fat - it tricks the body into burning fat rather than what you've recently eaten or muscle.
toning will only happen when there is a balance between fat reduction and muscle growth. no cardio will directly 'tone' any body part - it will reduce the layers of fat which then gives the appearance of toning.
most people will tell you there is no such thing as toning and they are right; however, toned is a really good way of describing a look that people want - but it is deceptive as it takes 3 things to achieve a toned body - clean diet, weight training to build muscle and fat burning to show it.