This paper explores the associations between different types of social capital and other measures including wellbeing, school connectedness, and pragmatic language. Seventeen adolescents who were deaf or hard of hearing (DHH) from Australia and the United Kingdom completed an online survey and their results were analysed to answer research questions relating to: social capital formation in adolescents who are DHH; associations between social capital, wellbeing, pragmatics, and school connectedness; and the role of identity in social capital formation. Statistical analyses were completed to determine: bivariate correlations between variables; significant differences between the types of social capital measured; and significant differences in social capital according to identity group. Results indicate that overall, adolescents had higher Offline social capital compared to Online social capital, and higher Family social capital in comparison to Peer and Institutional social capital. Additionally, all social capital except Online social capital had strong associations with wellbeing and school connectedness measures. Students who identified as deaf had statistically significant lower levels of social capital than those who identified as hard of hearing or hearing impaired, and bicultural; however, this result may be due to the composition of this small sample. This study indicates that social capital is associated with higher levels of wellbeing and school connectedness and demonstrates that school experiences play an important role in the formation of social capital for students who are DHH.