Well I don't rate HK at all (I'm sure many will differ), but Bali is a top holiday spot.
You can't go far wrong with any of the hotels in or around Nusa Dua (the southern tip of the island). This is the touristy end. There are also some good ones inland - I wish I could remember the name of the one we visited. There are also plenty of cheap options - try
www.lonelyplanet.com.
It is very cheap, so long as you eat outside of the hotels.
Take a tour of the island - there's some great scenery (mountains, paddy fields), and visit the temples. You can 'do' most of it in a day. Hire a car-with-driver.
I can also recommend taking an overnight trip to Borobudur/Yogyakarta. It's about an hour flight from Bali.