1. Limitation of Choices
Airbnb is not popular in Hong Kong (not yet) hence there aren’t many choices available. Property price in Hong Kong ranks top for several years and constantly in shortage of supply. Not many local can really afford renting out their apartment (not even a room) and renting it to a local earns generate more income hence your choice is very limited. Some of the “homes” are actually hostels.
2. Quality of Reviews
Since Airbnb is not popular in Hong Kong, the number of reviews is also limited. I’m not saying all the reviews are fake, but 10 good reviews doesn’t necessarily mean better quality. This is how reviews work.
Not every hotel offer high quality standard but in general, hotels have a higher quality standard, and as reviews are limited you are simply in lack of information to find a good home.
Staying in “home” in Hong Kong via Airbnb is not cheap, sometimes even more expensive than a Hotel. If the home you choose is hostels, you are paying more than what you should have paid.
Most hotels in Hong Kong are easily accessible via MTR, it might not be the case for those you can find on Airbnb. The transportation system in Hong Kong is well established, but in certain areas, it could be hard for a visitor and not every driver speaks English.
6. Health and Safety
Hong Kong is generally safe, but if you are staying in a place with silent dark alleys, not so safe, especially in the northern part of Hong Kong, where occasionally mainland illegal immigrants and some of them are thieves.
7. Protected by Law
Airbnb is not yet legal in Hong Kong and not being protected by Law, not a single one, except the fact that they can’t turn their resident into hotel.