Lonely Planet Review
The hostel formerly known as Wang Fat is a good place to meet other backpackers, with 110 rooms scattered through several floors of a large apartment building. They're not spacious, but many are newly renovated with phone, TV and fridge. There's laundry facilities, long-term storage, free Internet access and wi-fi, but be sure to get a receipt when you pay.
As with other recommendable guesthouses, Hong Kong Hostel excels in cleanliness, security and location. The latter includes being only a few minutes' walk from a MTR station entrance. These characteristics, plus well-equipped rooms, are obviously appreciated by the budget travellers who are constantly buzzing themselves in and out of the building. You could take a room in a very quiet back corner of the building, but it's much more interesting (albeit much noisier) to take one that overlooks the comings and goings along Paterson St. Rooms do vary, it must be said, so try to look at a few first. Note that there's no signage out the front of the building in which the hostel is located; you'll have to buzz the flat and be ushered in past a doorman.
Review by author
Paul Smitz