Take a tram ride from Causeway Bay to Wan Chai then Central (Trams bound for Kennedy Town, Whitty Street or Western Market, not Happy Valley, Causeway Bay, North Point or Shau Kei Wan). The tram will take you through the most bustling areas on Hong Kong Island. Stop at any tram stop if you wish to have a look at the places and have a breakfast or lunch.
Take buses No.6, 6A, 6X, 260 or 262 (Stanley bound) from Central's Exchange Square or Central's Star Ferry Pier, and get off at Repulse Bay. "The Repulse Bay Centre" right behind the main bus stop is a very elegant, beautiful European building built during the colonial era. This Centre also has serveral shops and cafes where you can have a nice afternoon tea. Afterwards, just hop on the buses that are Stanley bound and then you'll arrive at Stanley shortly.
Stanley Market is one of the most famous attractions. It has hundreds of shops selling souvenirs, paintings, traditional Chinese arts and crafts, silk products, or items that are of bargain.
Afternoon / Evening:
Take a bus from Stanley and go back to Central. Then take a short walk of about 15 minutes or hop on Bus No.15C from Central's Star Ferry Pier to the Peak Tram Station behind Bank of China Building. Then get on the Peak Tram to view the most breathe-taking scenery from the top of Hong Kong. If you arrive at The Peak at least an hour before sunset, then you can take an hour to complete the circular Peak Trail, which is one of the easiest and favourite hiking track in Hong Kong. (Another advantage of arriving before sunset is that you can enjoy both the spectacular daytime and nighttime view.) After the walk, then have a dinner at The Peak along with the view of Hong Kong, this will definitely be one of the most unforgettable experience during your Hong Kong tour.
If you are not tired for the day yet, then take the Peak Tram back to Central and go to Lan Kwai Fong, where the expatriates and locals drink till they die here. Or if you wish, instead of dining at the peak, you can dine near Lan Kwai Fong or SoHo district, as those are the hippest areas in town where you can find heaps of good restaurants and pubs.
Take a ferry from Central Pier 6 to Lantau Island's Mui Wo (around 40 to 60 minutes), then catch Bus No. 2 to Ngong Ping (50 minutes). Or take the MTR Tung Chung Line's train to Lantau Island's Tung Chung (around 35 to 40 minutes), and then catch Bus No. 23 to Ngong Ping (50 minutes). Ngong Ping is where the famous Big Buddha and Po Lin Monastery located. Also, you can have a vegetarian lunch at the monastery.
Add in Ocean Park if you like giant panda, giant aquarium, shark aquarium, sea lion and seals colony, thrill rides or other exciting rides. You'll need more than half a day at Ocean Park.
You can also add in Macau as one extra day. Macau is famous for its casinos, gourmet and cultures. It is a former Portuguese colony and returned to China in 1999, just like Hong Kong as it was a former British colony and returned to China in 1997. Unlike Hong Kong though, much of the heritage culture and sites are preserved in Macau and it's worthwhile to take a visit to Macau.
The Turbojets depart from Hong Kong to Macau every 15 minutes, 24 hours a day and 7 days a week. The pier is right above Hong Kong Island's Sheung Wan MTR station.