Hong Kong Heliport (HHP) is not an airport in the conventional lounge sense, so does hong kong heliport have a lounge is really a question about a different kind of facility altogether. Sheung Wan's heliport handles helicopter movements rather than fixed-wing airline traffic, and its terminal building is sized for that purpose: a compact check-in and waiting area rather than anything resembling an airline concourse.
Helicopter service here has, at various times, connected Hong Kong to Macau on a short hop across the Pearl River Delta, operated by dedicated helicopter carriers rather than mainstream airlines, and schedules and operators for that route have shifted over the years, so confirm current service directly before counting on it. Passengers using that kind of connection should expect a functional wait rather than a lounge, since the facility is not built around the premium-card and status ecosystem that airline lounges use.
The real lounge picture for this city sits across the harbor at Hong Kong International Airport, one of Asia's major hub airports, where genuine premium lounges operate for airline status holders, premium-cabin passengers, and Priority Pass style memberships. Cathay Pacific's The Wing and The Pier, along with several pay-in and Plaza Premium style lounges, give Hong Kong International a lounge landscape that has nothing in common with the heliport's small terminal.
If your itinerary genuinely starts or ends at the heliport, treat it as a short, functional stop rather than a lounge destination, and route any real lounge plans through Hong Kong International Airport instead. Confirm helicopter schedules and any transfer arrangements between the two facilities ahead of travel, since a same-day connection between heliport and airport is a logistics question worth checking rather than assuming, and cross-harbor traffic in Hong Kong can add more time to your journey than the short flight itself ever would.