After reading the reviews, I felt like this hostel would be our best place to stay. We booked two private rooms here. Hong Kong was a bit intimidating considering I'd never been here before. However the hostels website gave very clear instructions on how to find them, and it worked out well.
The building is not attractive, and the accomodations are basic and small. However it had everything we needed. There was even a fridge outside the room we could use.
The location is great. This area is wonderful. The market is very cool to walk through, and theres lots of shopping here. Also, there is a McDonalds across the street, lots of local food, and two 7-11s. The subway is also just about a block away.
The staff was nice although their english is limited. We got discounted tickets to Disneyland and the discount was substantial.
The only major negative here was that I found the mattress to be very hard, to the point where it was hard to sleep. Maybe this is standard in Hong Kong, but it was very uncomfortable.
Another thing to note is, the shower is a showerhead located above the toilet. This wasn't an issue to me, but some people may not like it.
Overall we enjoyed our stay here because of the location and the very reasonable price. I would definately stay here again, but perhaps bring an air mattress to add to the bed.