Styloctenium wallacei is most closely associated with tropical rainforests up to 1,800 m asl and has also been encountered in mixed-gardens (e.g. cocoa, rambutan, and durian plantation) (Maryanto et al. 2011, Yusti 2015, Widayati and Nurjana 2018, Widayati et al. 2020). This species is a solitary, nectarivorous species that also feeds on fruits (Maryanto et al. 2011).

This species has been recorded from throughout Sulawesi, including the nearby Buton Island and the Togian Islands (Bergmans and Rozendaal 1988, Maryanto et al. 2011, Yusti 2015, Patterson et al. 2017, Mubarok et al. 2018). The species is suspected to occur on Selayar Island (Heinsohn 2002), but that has yet to be confirmed. Styloctenium wallacei has been found from sea level up to 1,800 m asl (Maryanto et al. 2011, Widayati and Nurjana 2018, Widayati et al. 2020). The type locality for this species is Macassar, Sulawesi, Indonesia.

While S. wallacei occurs in Lore Lindu National Park (Maryanto et al. 2011), Lambusango Forest Reserve (Patterson et al. 2017), and Bogani Nani Wartabone National Park (Ransaleleh et al. 2020), there are no known species-specific conservation initiatives in place for it. Forests where the species is known from should be protected, and degraded forests should be restored. Additional research is needed to inform the species distribution, its population status and trends, and the extent of the threats, including the impacts of hunting on the species. Insights into the species ecology are needed to better inform the species conservation and management.