HONG KONG stood poised last night to overhaul Australia and claim third place overall in the blue-riband Kenwood Cup Series in Hawaii. The trio of Australian boats - Brindabella, Assassin and Ninety Seven - performed badly in the final 360-mile off-shore race which counted for quadruple points. The USA Red team, led by Excel's Growler, the top overall points scorer in the IOR Division, have the Kenwood Cup Series wrapped up even though a number of boats were still on the water last night. A second American team, USA White, are provisionally second with Hong Kong and Australia fighting for third place. Brindabella, George Snow's 65-foot Farr design, was predictably first across the line, but according to race organisers will finish well down on handicap, possibly as low as 23rd place. ''Assassin and Ninety Seven have also had average races so Hong Kong could easily take third place,'' said series publicity officer, Malcolm McKeag. ''Hong Kong have performed creditably throughout the series,'' he added. Three of Hong Kong's four-boat team - Neil Pryde's Hi-Flyer, Rick Strompf's X-Rated and Henry Thornton's J-Hawk - had finished late yesterday afternoon with Steve Ellis' Wizard on the water. Hi-Flyer, a 40-foot Farr design, had an outstanding series finishing ninth across the line, one place ahead of the Jepessen-designed 51-footer, X-Rated. On handicap J-Hawk was lying in 14th place last night, Hi-Flyer 15th and X-Rated 16th. The series has been an outstanding one for Strompf and his crew aboard X-Rated. McKeag said last night that X-Rated had provisionally won the Kenwood IMS Bowl for cruiser/racers. The final race in the series is likely to have been won by Corum No Problem by a slender 52 seconds over Excel's Growler but McKeag stressed that with boats still on the water, the result remained provisional. The 360-mile offshore race was held in uncharacteristically light winds which saw the fleet parked on the course on at least three occasions. Overall positions in the Champagne Mumm World Cup and Yacht Clubs' Cup remain undecided until after the entire 31-strong fleet has finished. The third and final leg of the Champagne Mumm World Cup will be staged in Hong Kong in October with the hosts in a strong position to further improve their position in team competition.