The advent of the Gravity Recovery and Climate Experiment (GRACE) and Gravity field and steady-state Ocean Circulation Exploration (GOCE) has changed the global contribution in the determination of high-accuracy global geopotential models (GGMs). In this paper, a spectral expansion method is used to determine the combined GGMs, using the high-resolution EGM2008 model and residual terrain model (RTM) to effectively bridge the spectral gap between the satellite and terrestrial data. The accuracy of the combined GGMs shows improvement compared with GOCE/GRACE-based GGMs and EGM2008 in determining the geopotential of the Hong Kong Principal Datum (HKPD). As a result of the DIR_R5/EGM2008/RTM model and GNSS/levelling, the geopotential value of HKPD is estimated to be 62,636,860.52 m²s⁻² with respect to the global geoid W₀ = 62,636,853.4 m²s⁻². Therefore, the vertical offset between the HKPD and global geoid is about −72.8 cm, which means that the HKPD is 72.8 cm below the global height datum.