Hawaiian surfer John John Florence has captured a second world title after fellow contender Gabriel Medina was eliminated from the final event at Pipeline.

The pair were the form surfers throughout the 2017 season, with Medina putting in a late charge to win the last two events coming into the season finale at Pipeline.

Despite eliminating 11-time world champion Kelly Slater earlier in the day, Medina fell short against Jeremy Flores of France in their quarterfinal match-up to hand Florence his second world title.

But there was no dream end to the day for Florence with Flores taking the final with a buzzer beater to take his second Pipeline Masters.

Regardless, Florence said he was overjoyed to secure his second world title on home soil.

"To win here at home, this has been my dream and this year it happened," an elated Florence said shortly after Medina's loss.

"It's just been an awesome year."

Flores had needed a good result at Pipeline to requalify for the 2018 tour and said he was not entirely comfortable playing the role of title decider.

"To be honest I don't like to be that guy who is deciding titles," Flores said while being presented with his trophy.

"It should have just be a showdown between John and Gabriel. These guys work so hard. Honestly when I beat Gabriel, I felt bad. Guys like that work so hard all year and to see the emotion on their faces, I was like 'Man, I hate doing this!' but I was stoked to make it happen a second time. It was an emotional day for sure."

Florence admitted to feeling nervous watching Medina move into top gear towards the pointy end of the 2017 season.

"It's been pretty hard for sure," Florence said.

"It's been pretty scary being that close in points with someone like Gabriel, especially at Pipe where he's such a good surfer. I'm just so stoked right now."

The event also marked the return of Kelly Slater to competition after his being injured while competing at Jeffreys Bay, South Africa in July.

Slater, who will turn 46 in February, finished the year ranked 28th, and has yet to say whether he will return to competition next year.

Fanning remains uncommitted for 2018

Two-time world champion Mick Fanning was one of three high-profile surfers to be eliminated from the event yesterday, ending an otherwise lacklustre year for the Australian, who was competing in his comeback year after taking much of 2016 off due to personal reasons.

Fanning went down to California's Connor Coffin, who said in a post-heat interview that Fanning had told him, "This is the last time I'll ever surf out here", and went on to congratulate Fanning for an, "amazing career and for being a really good role model".

However Fanning played down the prospect of his own retirement during his post-heat interview, instead focusing on the retirement of fellow Australians Bede Durbidge and Josh Kerr.

"I don't know yet, I'm going to go home and sit and think about the year and what I want to do," Fanning said after his loss to Coffin.

"I'm not really too fussed or not really thinking about it too much just yet, it's a special day with Bede and Josh Kerr as it's their last event so it's not really about me. I'll just go home, look in the mirror and see what I want to do."

Durbidge eyes Olympic coaching role

Durbidge, who broke his pelvis competing at Pipeline in 2015, will take up a position as coach of the Australian surfing team heading into the Tokyo 2020 Olympic Games where the sport will be included as a demonstration event.

The popular Queenslander has been a fixture on the tour for 13 years and said it was a career of many highlights.

"I think that's the best part, just traveling around with your friends and family and all the good memories," Durbidge said.

"The contest side is amazing, but that's what you remember forever.

"I have a really good job moving forward and transitioning into working with the Olympic Australian team and Surfing Australia. It's super exciting for me and something I'm very passionate about. I move into that in January and it's going to be another fun journey, another chapter in life."

Kerr, who first qualified in 2011, has transitioned into a formidable big wave surfer, winning the Todos Santos Challenge on the World Surf League's big wave world tour in 2015.

"I'd love to keep going but the most I've learned right now is winning isn't everything," Kerr said.

"I couldn't be happier with everything I've done in the past and what I have moving forward, so it's really exciting.

"I've got a few things in the works that have to do with surfing. Hopefully going to help out the world of surfing and then also a lot of traveling with the family doing some really rad stuff. We're lucky enough to have an awesome family dynamic. Get to continue to travel to beautiful places like this and not put a rashie on."