So when is the best time to visit? In my opinion, it goes like this:
Avoid Chinese holidays if you can, because the city will be packed and hotels will cost you. The main holidays that I'm thinking of are of course, Chinese New Year and their Golden Weeks (1st week of May and 1st week of October).
The cheapest time to visit Hong Kong for saving on hotel cost is without a doubt the hot summer months. Everyone likes to go in the spring or fall because the weather is nice, so naturally hotel costs go up then. (NOTE: This is another advantage of trying to get a vacation rental. Their cost usually stays the same year round!)
But what about air-fare. This gets tricky because it seems that air-fare cost goes up during these hot summer months when the hotel is cheap. Also air-fare will probably cost you during the big western holidays, like Easter, Christmas, and New Years.
So this basically leaves the time right after Chinese New Year, late Feb. in to March. But also some slots in November or December might be good. What do others think?