Do-able but the flights are VERY full. Be prepared to shell out for a full fare every now and then (the standby system will be useless for you for quite a long time as commuting cookie-chuckers will bump you).
Dealing with rostered standby ("awarded" on a "fair-share" basis) will necessitate affordable digs in HKG. Don't rely on the Novotel or Regal as they're frequently full and gouge just when you need it. Forget about the Brushwing Barracks, it's always chockers.
Not to mention frequent insurrections, riots and typhoons, it might be possible...