Hong Kong is called a "shopping paradise," and Tsim Sha Tsui is part of that -- there are lots of famous brands in that district and you can definitely enjoy shopping there.
Tsim Sha Tsui is located in Kowloon Peninsula, but it is easy to get around from there. Tsim Sha Tsui MTR station is on the Tuen Wan line, and it is three stations next to Mong Kok, where you can find Ladies Market and Temple Street. On the other hand, if you travel in a reverse direction, you will reach Admiralty, which is in Hong Kong Island, in five minutes. And in Admiralty, you can take the bus to Ocean Park. If you are tired of traveling by MTR, there is also an alternative. You may take the Star Ferry in Tsim Sha Tsui Pier to get to the opposite side of the harbour. You can enjoy the beautiful view of Victoria Harbour during the trip.
If you want to get from the airport to your chosen Tsim Sha Tsui hostel, you can take bus No. A21 from the airport. It takes about one hour from the airport to Tsim Sha Tsui. You can also take the Airport Express and change for buses in Kowloon Station -- it is not recommended to change for an MTR in Kowloon Station, as it is much more complicated.
You will find delicious food with fair price at Mong Kok or Yau Ma Tat. It takes about fifteen minutes to get there by MTR.