My mate and I have been catching them consistently over the last few months at 4 different wharves in Sydney Harbour. Biggest fish going 99cm (it was my mates first kingfish).
The last time I went fishing was 2 weeks ago and landed an 81cm specimen.
The most important thing is selecting a location where high tide is within 2 hours of sun rise (I wouldn't fish after 7:30am. Once the ferries start, It seems they go off the bite). I've found half an hour after the tide change is when we've hooked up our fish.
For bait, live yakka's. Surprisingly, freshly caught squid hasn't been productive for us.
Don't be scared to fish well west of the harbour Bridge. You'll be surprised how far up they go and how shallow they feed (caught them in less than 4 metres of water). They tend to fight really dirty in the shallower water, swimming straight to the wharf to try and wrap themselves around a pylon and bust you off. So, I strongly recommend a long surf rod to keep them away from the Pylons when trying to net them.
As an example, my setups are as follows:
14 foot rods (8-15kg), 4000 size reels with 30lb braid, running star sinker with 60lb leader. 5/0 to 7/0 circle hook pinned just behind the head.
Hope this helps & best of luck.