Kona and the west coast
Manta ray night snorkel in Kona
The one activity I would book before the flights.

The island is too big for a top-50 list. These are the outings I would actually book on a first trip, grouped by coast, with a straight answer on whether the paid version is worth it.
Most first-timers sleep here. The water is the reason to book something.
Kona and the west coast
The one activity I would book before the flights.

Kona and the west coast
The clearest snorkel on the island, and you reach it by boat.

Kona and the west coast
One sunset show. Not the same night as the mantas.

Kona and the west coast
December to April only. Outside that, book the mantas.

A guided day pays off when you are based in the west. From Hilo, drive it yourself.
The green north. One paid half-day is enough. The lookouts are free.