me and my partner went there last year and had a great time.
there is an excursion around the volcanic part of the island, which is worth seeing - also the underground caves of "jameos del agua" on the north part of the island is worth a visit.

other things to do include a trip in a submarine, and a catamaran trip to a nearby secluded beach.

i recomend rick's bar in puerto del carmen for a really great night out - the DJ there is really funny!

It's a great place. The whole of Puerto del Carmen has loads of bars, clubs, restaurants there. Great discount perfume shops, but what they do is fiddle about on the calculator and tell you that's the discount price, don't believe them, get haggling. You can also do a great excursion to Timon Fiya, the local volcano park, take a ride on camels, go to the waterpark, lots really. Have a lovely time