What is the capital of Hong Kong, if it indeed has a capital?

It's Victoria. Also called Victoria City.

Victoria City, or the City of Victoria, was one of the first urban settlements in Hong Kong after it became a British colony in 1842. It was initially named Queenstown but was soon known as Victoria. The name "Victoria" is rarely used today except to refer to the Victoria Park, The Peak, the harbour and a number of roads and streets. It was often said to be the "capital" of Hong Kong during its time as a colony of the United Kingdom, as almost all government departments have their head offices located there.

https://en.wikipedia.org/wiki/Victoria_City

Victoria has been renamed Central.

Central (also Central District; Cantonese: Choong Wan or Chung Wan), the central business district of Hong Kong, was commonly known as part of Victoria City. It is an area on the north shore of Hong Kong Island in Hong Kong. It is located across Victoria Harbour from Tsim Sha Tsui, the southernmost point of Kowloon Peninsula. It is the central business district of Hong Kong, and many multinational financial services corporations have their headquarters in the area. Consulates general and consulates of many countries are also located in this area, as is Government Hill, the site of the government headquarters. The area, with its proximity to Victoria Harbour, has served as the centre of trade and financial activities from the earliest day of British colonial era in 1841, and continues to flourish and serve as the administrative centre after the transfer of sovereignty to China in 1997. The area was the heart of Victoria City, although that name is rarely used today.

https://en.wikipedia.org/wiki/Central,_Hong_Kong

As the territory is governed by unitary authority, there are no formal definitions for cities and towns in Hong Kong and no capital city has been designated. The historic boundaries of Victoria City, Kowloon and New Kowloon remain stated in law, but these entities have not had any legal or administrative status since the implementation of the District Administration Scheme in 1982. Previously some colonial-era texts had considered Victoria City to be the capital.

https://en.wikipedia.org/wiki/Hong_Kong

According to the CIA Fact Book, Hong Kong has no capital. It is currently a special administrative region of the People's Republic of China.

https://www.cia.gov/the-world-factbook/countries/hong-kong/

Many of the governmental buildings and offices are located in this area of Hong Kong, and some call it Hong Kong's "capital," it obviously is not legally recognized as such.

Correct, but it was the capital of the British crown colony.

Hong Kong is a Dependency which comes under Chinese rule so doesn't have a formal capital city. Victoria was regarded as the unofficial capital but it is now known as Central which is the official administrative capital of the island. ----

Under English common law tradition capitals do not necessarily have to be designated explicitly by statutes. Victoria had always been considered the capital of the former British crown colony. The name "City of Victoria" is entrenched in the law of the territory. Nothing has been done to amend the legislation no matter before or after the 1997 transfer of sovereignty.

Nevertheless the name had fallen into disuse among Hongkongers well before (perhaps 20 or 30 years) the 1997 transfer of sovereignty. The urban area had expanded eastward, beyond its limits as stated in the statute, along the northern stretch of the island.. And most people refer to different parts of island, no matter within or outside the city by the names of the areas (i.e. neighbourhoods). Central is one of the areas within the city. Other areas in the city include Wan Chai, Sheung Wan, Shek Tong Tsui.

http://wiki.answers.com/Q/Is_Victoria_the_capital_of_Hong_Kong