Hey Alice, Jon...
I lived in HK for a few years, and there is tons to do but really depends on your budget and whether you have friends in town... a lot of the good nightlife too revolves around underground clubs with lists and that sort of stuff, that unfortunately you won't be finding in any travel guides.
The escalators you mention Jon are the "stairs" they use all over the Midlevels/Soho... in Central. You won't even have to look for it, I used those 3 times a day when living there. Big Buddha is worth it... and the harbor is amazing at night from the Kowloon side. I think every night at something like 8pm they do a firework show still, you can watch it from the Avenue of the Stars in Kowloon. Alternatively, if you want to have a really incredible view, make reservations at Aqua, http://www.aqua.com.hk/, not cheap at all but unbeatable views - I go there with all my friends visiting, and request a table along the windows. Good views too from Central from Isola in IFC2, also gooooood pizzas.
Check out the Peak as well but make sure you go on a clear night - also amazing views, and can make dinner plans up there, tons of restaurants.
The biggest tourist market, think all the ripoff Asian stuff, you are thinking Temple Street market - I think its an MTR stop. Also worth just wandering the streets in Central under the escalators, tons of nice art galleries all around Soho and down towards central.
Getting around is very easy, the MTR is extremely efficient, so clean, and goes everywhere.
HK has some really nice hiking too if you are interested, a lot of people do Dragons Back, and also some nice hiking out in Sai Kung, that was always my favorite, takes you out to a surf beach and secluded fishing villages, but you ahve to take a taxi to a park entrance, then a little boat over, then an hour hike over a mountain.
Sailing is really popular in the summer, ppl living in HK are always taking out junks (old Asian style sail boats) and having massive all day parties on them. Wakeboarding is also really really popular in the summer.
Outside of Central and Kowloon, in the New Territories, I really liked to go motocross racing too. They do have guys out there with a course if you are interested.
I dont know about street food tasing better than the restaurant food... there are some amazing local restaurants in HK!! HK also offers amazing southeast Asian food. Rat alley in LKF has a ton of great Malay/Thai/Viet hole in the wall restaurants, at reasonably cheap prices. can also find awesome Indian food in HK.
HK has a really hip artsy scene as well... check for art clubs, jazz clubs, tons of that kind of stuff happening all over the city. The Fringe Club usually has something going on. Li Dou at the bottom of LKF was one of my favorite bars, also Feather Boa in Soho. Le Jardin (sp?) behind Al's Diner was a cool place to chill out with a beer and get away from the hoity toity crowd.
If you have a few days, it might even be worth it to check out Macau, it is only like 2 hours or something by ferry and super easy to schedule around. Dont forget your passport when you head over though!!
If you want more suggestions on things, restaurants, clubs, bars, just ask. There is too much to type in one response!
Have fun!! and dont worry about the english, especially on the island.
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