Australia's Joel Parkinson might not be a world champion just yet, but he was in world championship form yesterday.

Parkinson won the O'Neill World Cup of Surfing for a record-tying third time at Sunset Beach. The final day of the contest was run in wave-face heights of 15 to 25 feet.

The O'Neill World Cup of Surfing is the second event in the Vans Triple Crown of Surfing series. Parkinson, who won the Triple Crown title last year, is now the leader in the current Triple Crown standings.

He also happens to be in a world title showdown with fellow Australian Mick Fanning. Both the world and Triple Crown championships will be decided at the Billabong Pipeline Masters, which starts later this week.

"The best thing when you win a contest, you take out confidence," said Parkinson, 28. "So I'm going to take confidence going into Pipe that I didn't have before."

Parkinson's victory came in dramatic fashion. He clinched the win late in the closing minutes of the final heat.

With around three minutes remaining, he rode through a barreling wave and was rewarded with a score of 6.17 (out of 10).

"It wasn't that much of a barrel, so I was thinking, 'Gee, I wonder if that's the score I need,' " Parkinson said. "I'm happy it was enough because there weren't that many good (waves) in the final."

Parkinson received $20,000, and joined legendary North Shore surfer Michael Ho as the only three-time World Cup champions. It also spoiled a near-storybook victory for Wai'anae's Sunny Garcia, who finished an agonizing second.

Garcia had the best wave in the final — a near-perfect 9.47 for a long barrel ride.

"The whole beach erupted," Parkinson said. "I knew I had to work after that."

Garcia had the lead for most of the heat, until Parkinson's late wave.

"I thought I was going to win after my first wave," said Garcia, 39. "Even after Joel got his wave at the end, I only needed 3 to get the lead back, so that part was frustrating. I'm a little bummed to get that close, but at the same time, I still feel good about this."

Garcia owns a record six Triple Crown championships, although his last came in 2004. He went through legal and physical setbacks in recent years, and spent most of 2009 rehabilitating from surgeries on both his knees.

"I've been enduring a very long, painful year," he said. "I was getting beat by guys I don't usually get beat by and that was hard for my confidence. I was thinking maybe I'm too old, maybe I should retire. But then my legs started feeling strong right before the Triple Crown and I started getting my confidence back."

With his second-place finish, Garcia earned an invitation to the Billabong Pipeline Masters. He trails only Parkinson in the Triple Crown standings.

"I'm going to be 40 next month," Garcia said. "I never in my wildest dreams thought I would still be competing at this age, let alone making finals."

Australia's Fanning, who is currently ranked No. 1 in the world (Parkinson is No. 2), placed third yesterday. The O'Neill World Cup did not count toward the world championship, so yesterday's results did not affect the standings.

Maui's Dusty Payne placed fourth, but qualified for the 2010 ASP World Tour. Payne finished the 2009 World Qualifying Series ranked No. 9.

Yesterday's contest was the final event of the qualifying series. The top 15 got called up to the elite World Tour.

"I'm so stoked to make it," Payne said. "I was trying not to think about it this whole contest, but I knew what I had to do."

Mason Ho of Sunset Beach and Torrey Meister of the Big Island had their strong runs cut short in the semifinals. Ho and Meister — who are both 21 —upset several higher-ranked surfers throughout the contest.

Yesterday's waves could be a preview of bigger ones to come today and tomorrow. Wave-face heights are expected to be in the 40- to 50-foot range, and the Quiksilver In Memory of Eddie Aikau big-wave contest could run today or tomorrow at Waimea Bay.

"Can't wait," said Garcia, who is one of the invited surfers for the contest. "We're going to have a lot of fun."

O'Neill World Cup of Surfing final results

1, Joel Parkinson (Australia), $20,000. 2, Sunny Garcia (Hawai'i), $10,000. 3, Mick Fanning (Australia), $5,100. 4, Dusty Payne (Hawai'i), $4,900. 5 (tie), Torrey Meister (Hawai'i) and Mason Ho (Hawai'i), $3,000. 7 (tie), Daniel Ross (Australia) and Taylor Knox (California), $2,900. 9 (tie), Kekoa Bacalso (Hawai'i), Pancho Sullivan (Hawai'i), Alejo Muniz (Brazil), Bede Durbidge (Australia), $2,400. 13 (tie), Jihad Khodr (Brazil), Glenn Hall (Ireland), Tanner Gudauskas (California), Kai Otton (Australia), $2,100.