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Money and Modes of Payment
The HKD is pegged at 7.7HKD per USD.
I usually buy HKD locally and bring extra USD. It's best to exchange by 100USD only don't exchange all your USD. The hotel or airport or even banks can change this for you (although banks charge a small fee).
Also swipe when you can. I prefer to swipe with big amounts so I get points and my cash is not depleted for shops that do not honor plastic.
Octopus card this is like a pre-paid debit card used for transportation and paying in shops I'd advise getting 1 as it makes things much more convenient.
To and From the Airport - I suggest riding CitiFlyer bus [HKD40.00/adult] if you are not in a hurry. Check where you are staying then look for where to get off here.

MTR - this is the HKG tube system very convenient although it gets congested during rush hour. It is open till 1200AM. primary mode of transportation. remember to please stand clear of the door tut tut tut tut tuuuut.
Taxis - these are expensive but worth it if you are 4 or more and have loads of shopping bags.
Bus/Light Bus - these are a bit cheaper but you have to know which bus to take and where to get off [most bus stops have a schedule and stop points posted]
Tram - cheapest and a great way to inhale a lot of pollution while soaking in the sights of the urban jungle.
Pre-paid SIM cards are cheap just go into shops selling mobiles and get 3 or Sunday or CSL SIM card this should last you for your trip. Most shops will have pinoy SIMs [a testament to how many OFWs we have there] try and asking for one [i think these have better idd rates]. Hongkongese tend to call rather than SMS because it's faster and ultimately cheaper vs SMS back and forth.

You can get your 3 hkg sim card at the airport:

3G Int'l Roaming Rechargeable SIM Card (98HKD) (SIM)
28HKD per day unlimited data
Tethering 2HKD per Mb
**best choice for short trips to HKG, will tether.
3G Rechargeable SIM card for iPad (198HKD) (micro SIM)
18HKD per month unlimited data
Tethering = disabled on telco side
**more expensive initial out, cheaper data, more expensive calls not advisable if you won't be returning soon
Most malls have mallwide free wifi.

Hong Kong's weather is not to different from Manila except during ber months to feb. It is a bit polluted so if you have allergies it might be a good idea to bring antihistamines.

Food and Drinks
HKG has great food. Here are some of the places to consider eating at.
Roasting Places - you may try char siu [hkg asado], white or roast chicken, roast goose
Noodle Houses - wanton noodles nila panalo
Congee Houses - get any you prefer
most roasting places have NAY CHA or milk tea sarap neto pwedeng hot or cold.
** these are cheap usually less than 30HKD for a bowl or plate and busog ka na
HKG fastfood
Cafe de Coral - hkg baked porkchop, roasting and noodles, nay cha
Fairwood - roastings and noodles
** a bit pricier but not necessarily tastier
Yung Kee - Roast Goose - Central near Lan Kwai Fong
Din Tai Fung - Xiao Long Bao
Shop 130, 3F Silvercord, 30 Canton Road
Tsim sha tsui, Kowloon
Hong Kong SAR
*Taiwanese franchise specializing in Xiao Long Bao [meat dumplings in paper thin cover with soup inside do not tear the skin]
Eat Garden - Chicken & Wanton Soup in Clay Pot
Unit 46 UG China Hong Kong City
Tsim Sha Tsui, Kowloon
Hong Kong SAR
Steak Expert - Steak & Foiegras Sets
1F 190 Aberdeen Rd.
Causeway Bay
Hong Kong SAR
Superstar Seafood Restaurant - Stone Fish Soup
10F Timesquare Mall
Causeway Bay
Hong Kong SAR
Fung Shing - Crispy Chicken, Dimsum
62-68 Java Rd.,
North Point, Hong Kong
Hong Kong SAR
Tao Heung Super 88 - Hot Pot
6F Tao Heung Super 88 Windsor Place
Causeway Bay,
Hong Kong SAR
Tuen Mun - Dampa [depends on what you order medyo mahirap pag di mo alam language]
Delicious Kitchen - porckchop rice
G/F 9-11 Cleveland Street, Causeway Bay, Hong Kong
Chinese Restaurant (forgot the name e but it's the only one there) - xiao long bao, lamb, dumplings in chili oil. 
10/F CTMA Center, Tung Choi Street, Mongkok, 
Under Bridge Spicy Crab (4 branches in Causeway Bay)
405 Lockhart Rd., Causeway Bay, Hong Kong. Tel: 2893-1289
Street foods - you can see this all over try the sausage with spicy mustard, curry balls, curry tripe and curry squid [usually 8 to 10 hkd per stick turo ka lang ng turo tapos sila na pa add mo hehe]
I am sure there are more restos don't be afraid to try.

I've added a food and establishment map curated by my friend @Chinang (I am adding stuff as I go along too...)

Shopping & Sights
Kowloon Side
TST - Ocean Terminal, HKG Observatory, Stars street
MKK -  Langham Place, Night Market, Sneaker street, Mongkok Computer Center
SSP - Golden Computer Center
Hong Kong Side
more info here:

Night Life
Lan Kwai Fong - this is in Central parang Malate remove the badings and add expats and hkgs gimmicking crowd. Lot's of bars and clubs kind of pricey but may 711 sa area so pwede mag load up dun.
Meron pa isa sa TST something terraces I forgot the name puro mga small cafes and resto

Theme parks
Ocean Park - too many mainlanders... hasslehoff
Hong Kong Disney - go only if you are a fan of disney and disney merchandise. otherwise stick to US or Japan parks. best to go on weekdays weekends daming mainlanders.
Victoria Peak / Stanley Market
Romantic view of HKG. Buffet. Cable car. some shopping


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