Agree with sakara54 that Marco Polo Hotel is a good choice to stay - in particular the hotel has been renovated recently. In any case if your hotel is near Ocean Terminal, Tsim Sha Tsui, Kowloon, it'll be easy for you to shop around and hang out with kid(s), coz there you have the Chanel Kowloon flagship store, Toysrus and lots of nice restaurants.
Of course Birkingal is most concerned about where to get Hermes products?
Apart from the H shop at (1) Duty Free Shop, Tsim Sha Tsui Sun Arcade and (2) Peninsula Hotel, you can also check out other H shops on Hong Kong side, see
http://usa.hermes.com/webapp/wcs/st...Id=10202&catalogId=10052&langId=-1&cityId=115 for shop list.
Another source to get H bags is the reseller shops. But many of the H bags from reseller shops in HK are "all new" or in mint condition. "Milan Station" is relatively reliable (as it is a chain store). Shop addresses are as follows:-
Causeway Bay shop: Shop F, G/F., 77-83 Percival Street, Causeway Bay. Tel: 2504 0128
Central shop: G/F., 26 Wellington Street, Central. Tel: 2736 3388
Tsim Sha Tsui shop: Shop F-H, G/F., 81 Chatham Road, Tsim Sha Tsui, Kowloon. Tel: 2730 2528
Another reseller is called "France Station" (competitor obviously?). They have a lot of neutral colour Birkins. Can't find the shop address on the internet but you can ask the conciege of your hotel. There's one "France Station" in Causeway Bay near Lee Garden Hill Road and Percival Street.
As to places for kids I'll recommend Hong Kong Park, Ocean Park (lovely animals and kids' playground) and of course Disneyland (if the adults are not fed up yet!). I'm a mother of 2 boys and do understand you need to take your kids somewhere and balance out your shopping urge during the holiday!
Hope you have fun in HK Birkingal!