Hmmm...would 2-3 weeks be better then? I have a friend who's checking with relatives for a place to stay, and it's possible that the relatives have a fully-furnished place that's available for renting (at a cheaper price since it's family). So housing costs will probably be cut down.
We were thinking of going into the neighbouring areas as well, like Macau and the New Territories that were mentioned previously. My best friend hasn't been back to HK for a few years now, and I know she has family there so there may be 1-2 days of family visits and whatnot. I might be visiting one or two of my relatives as well, though they're the type that I don't know well enough to stay with. I think we're not going to too many of the tourist locations, just the most popular, and probably spend the rest of our time walking around, exploring, taking pictures and whatnot. She seems to think that we'll need at least 3 weeks. I'm not sure since I haven't been to HK before.

What's the best places to do some shopping? (we know where the "bargain" shops/streets are already)
I know I'll need a passport, but would I need a visa? (I'm a CBC from Vancouver, Canada) My parents think I may need around $5000 Canadian, including the whole air fare and hotel/rental places. We don't mind eating cheap food mostly, but I can see us splurging out a few times during the trip. Shopping-wise, knowing us, it'll be mostly the stuff on-sale/bargain/tourist-y items, with only a few pricer/brand name things.
I will look into everyone's suggestions, and they're much, much appreciated! Thanks! =D