While Android Studio will normally let you know when you need to update something, you can also manage updates to the SDK manually via the manager. You’ll find this in Android Studio if you ...

Android development starts with the Android SDK - a collection of tools needed to build any kind of Android app. Discover what's included and how to use it.

Note: Install Android SDK (Android 4.4.2 KitKat) on the computer using the tutorial here. The installation of Android Wear SDK should be only after installing and setting up the main Android SDK.