In one-dimensional hexagonal piezoelectric quasi-crystals, there exist the phonon–phason, electro–phonon, and electro–phason couplings. Therefore, the phonon–phason coupling and piezoelectric effects on axial guided wave characteristics in one-dimensional hexagonal functionally graded piezoelectric quasi-crystal (FGPQC) cylinders are investigated by utilizing the Legendre polynomial series method. The dispersion curves and cut-off frequencies are illustrated. Wave characteristics in three hollow cylinders with different quasi-periodic directions are comparatively studied. Some new wave phenomena are revealed: the phonon–phason coupling and piezoelectric effects on the longitudinal and torsional phonon modes ( N = 0) vary as the quasi-periodic direction changes; the phonon–phason coupling effect on flexural–torsional modes in the r-, z-FGPQC hollow cylinders, and on flexural–longitudinal modes in ϑ-FGPQC hollow cylinders increases as N increases. The corresponding results obtained in this work lay the theoretical foundation for the design and manufacture of piezoelectric transducers with high resolution and energy-conversion efficiency.