Borocay is very overrated; prepare to be disappointed. 30 yrs or so ago it was rightly voted the 'most beautiful beach in the World' or some such thing. Now totally overdeveloped, expensive and not really worth the trouble.
Sorry to be so negative. Plenty of (much) better places to visit in the Philippines. PM me if you want some places to go off the beaten track.
Avoid Cebu Pacific if you can. Lousy customer service, web site that does not work and if you need a refund following a cancellation you will try for over a year without any luck. Foreign credit cards do not work either with them last time I tried. Also not - apparently - a member of ICAO.
I fly quite a bit internally in the PI and stick with PAL as far as possible.