Dates for the flight that I've checked are in November, for example, Nov. 6-14. I couldn't find flights in the summer that were even close to that price, but if you can get off work in November, go for it! If you book it through Orbitz, you'll have 'til 11pm the next business day, to cancel. Go through Ebates and get 8.1% cashback through Orbitz too, making this trip cost $29.61 less--$330.84! With Priceline, you'll have 'til tomorrow night 'til 11:29pm to cancel, BUT because the itinerary is mixed with more than one airline, there will be a non-refundable booking fee of $6.99USD per ticket. Booking through Orbitz or Priceline will give you time to try and find a good hotel deal.
Though there is a long connection time, whether in Toronto or Vancouver, if you can snag a ticket coming back through Toronto and you don't wish to continue to NY, you can just take your bags and abandon that flight, or have a vacation in NY and fly back on the return at your convenience (one way will take you there or you can fly with AirCanada.com directly from Toronto for $600+).
Major hotel chains are all there, and it's filled with a rich culture. Those who keep kosher have several options as well as a few synagogues that function there, including Chabad of Hong Kong, that will help set you up for meals.
Get them before they go!