Only hotels that have direct access to the Airport Express trains are the Four Seasons at Hong Kong, and the upcoming W or Ritz Carlton in Kowloon. They charge a lot more than HK$1,500 a night.

The Ibis is in a fairly down-scale area, the rooms are miniscule, and the harborview is not exactly the same as say from the Intercontinental. If you just want to see water for the cheapest price, then it's one of the candidates.

Your best bet will be the YMCA Salisbury, which is a real hotel, right next to the Peninsula. If they have availability for your nights, harborview room in May is HK$1,170 + 10% service charge.

Or the new Rhombus Panorama, also in Tsimshatsui. For your dates, their partial harborview "Superior Gold" is HK$1,288. Harborview "Deluxe Gold" is $1,488. Plus 13% tax and service charge.

From Expedia, they have the Nikko for US$180 a night for harborview, which is close to your budget limit, and over if you include taxes and fees. Metropark in Causeway Bay (with view of Victoria Park and parts of the harbor) is US$153. Or forget harborview and get the Langham Place in Mongkok, US$167.