Tsim Sha Tsui has most of the best bar on Kowloon side, which is the first MTR stop of you are coming from the Island.
There are some really great bars on this side, too, and you should not miss out on giving them a try. There is even a smaller version of Lan Kwai Fong at Knutsford Terrace, although it is difficult to get much smaller than that splatter of assorted yet very good bars.
Some good restaurants and bars that can be found there though such as Bahama Mama's, the Whale Pub and Chaser's. Whereas some of the old "Wanchai/Suzie Wong" style bars are still located in Tsim Sha Tsui on Ashley Road, such as the Red Lion Inn, and Ned Kelly's Last Stand.
For relatively higher classed and more modern styled bars, you should try Felix, which is located atop the Peninsula Hotel. However, as you can expect it is a little pricey but for those that are not paying for a room at the hotel with Harbour View, it is a must to pay a visit there.
Another pricey yet classy bar can be found in the basement of the Sheraton - Someplace Else. It is one of the hottest and most popular bars of late. They even have live music during happy hours. The disco music starts at around 2300, and is very popular with locals, expats and tourists.
These bars do serve great food, too, and is of a quality you would expect from some five-star hotels. You should also take a walk in the area especially during Christmas and New Year time, as gorgeous decorations of neon light can be found everywhere.