Australia, US women qualify for Paris Olympics in Hong Kong
Olympic champions New Zealand had already secured their spot at the Paris Games and came from behind to beat the Australians 26-17 in the cup final as the women finally joined the fray at the premier tournament in the world series.
"It was another great final, just with the wrong outcome for us," said coach Tim Walsh, who led Australia's women to the first Sevens Olympic gold medal in Rio in 2016. "Hong Kong has been home to such an amazing tournament, showcasing what an incredible spectacle rugby sevens - especially women's rugby sevens - can be."
The United States booked their berth despite failing to finish in the top three for the first time this season after losing to Fiji in the quarter-finals.
The Fijians will battle it out with Ireland and Britain for the final automatic qualifying place at the last round of the women's series in Toulouse in May.
New Zealand also won the men's cup, beating Olympic champions Fiji 24-17 to claim the top prize in Hong Kong for the first time since 2014.
The top four in the men's series, barring France who are guaranteed a spot as hosts, also qualify for the Paris Olympics. New Zealand lead the standings after eight of the 11 rounds followed by Argentina, Fiji, France and South Africa.