Wyse had overtaken a taxi on Harbour View Road but his car clipped a kerb, then a tree, hit a utility box and a metal bollard before colliding with a concrete wall and gate pillar.
The cap on the bollard was catapulted through the window of a nearby house while another part of the bollard ended up 45 metres away.
Ms O'Connor was pronounced dead at the scene before she could be transferred to Cork University Hospital (CUH).
Another teenager in the car also suffered serious injuries including a fractured skull.
He initially lost the use of his limbs but has regained movement thanks to intensive physiotherapy. The boy has no recollection of the collision.