It's not good
You can 'survive' as a single guy in HK on the current package but you can't support a family on it. Listen to the people on this forum who already live here.
Try looking up the cost of housing in HK for a 3 bedroom 1000sqft apartment in the cheaper areas of HK like Tung Chung or Disco Bay. This is the minimum you would want as a Westerner and see what you get.. The numbers don't add up.
All the iCadets I know are either actively looking for other jobs already or will leave as soon as their 6 years are up and they have marketable skills. The only ones who will stay are the ones who have family here or daddies who are Captains.
It's not good.