Bermuda is a very expensive destination. Food is especially expensive since almost all of it must be imported. However, the island is certainly beautiful and there are numerous activitiies available. Beaches are the most obvious place to start. Unfortunately, most of the beaches are associated with resorts or hotels, so be sure to stay at a place which is on the water.
Many people get around on the island by renting a motor scooter. Be aware that this may be dangerous for those not familiar with bike-riding, especially since Bermuda is part of the British Empire and, therefore, driving is on the lefthand side of the road.
Be sure to have a Rum Swizzle at the Swizzle Inn! Also, try the national drink, Dark and Stormy, made from Black Seal Rum and Ginger Beer.