According to the RTW Validator it's a valid itinerary (just replace AUK with AKL).

You can squeeze a few extra miles out of it by flying to from LHR to MCT instead of AUH, and going to BOM instead of NRT from HKG. Avoiding HNL might increase your mileage too, as you could work in a JFK-HKG flight, and then down to Australia.