AX-PET is a novel PET detector based on axially oriented crystals and orthogonal wavelength shifter (WLS) strips, both individually read out by silicon photo-multipliers. Its design decouples sensitivity and spatial resolution, by reducing the parallax error due to the layered arrangement of the crystals. Additionally the granularity of AX-PET enhances the capability to track photons within the detector yielding a large fraction of inter-crystal scatter events. These events, if properly processed, can be included in the reconstruction stage further increasing the sensitivity. Its unique features require dedicated Monte-Carlo simulations, enabling the development of the device, interpreting data and allowing the development of reconstruction codes. At the same time the non-conventional design of AX-PET poses several challenges to the simulation and modeling tasks, mostly related to the light transport and distribution within the crystals and WLS strips, as well as the electronics readout. In this work we present a hybrid simulation tool based on an analytical model and a Monte-Carlo based description of the AX-PET demonstrator. It was extensively validated against experimental data, providing excellent agreement.