The Peak is the highest point on Hong Kong Island at 552 metres, and the view from the top is the reason most visitors come up here: Victoria Harbour below, Kowloon stretching away to the north, and on a clear day the distant hills of the New Territories. At night, with the harbour lights reflected in the water, it's genuinely spectacular.
The Peak Tram funicular runs from Garden Road in Central and has operated since 1888. The ride itself — steep enough to make the buildings appear to tilt — is half the experience. There's usually a long queue for the tram going up; take the bus (no. 15C from Central) going up and the tram coming down to avoid the wait. The 360-degree circular walk around the Peak takes about 45 minutes and costs nothing. Skip the overpriced restaurants in the Peak Tower and bring a snack, or find the convenience store.