With 2 fantastic hostels in 2 great locations, Magnums has what you are looking for.
Magnums Airlie Beach and Magnums Magnetic Island.

Magnums Airlie Beach
Magnums Airlie Beach has the best of both worlds! Located in the heart of Airlie Beach, the hostel is set back in a lush tropical rainforest setting. So you can relax on the deck or get wrecked on the deck at Magnums famous party board walk and bars.

Magnums on Magnetic Island
Magnums on Magnetic is the perfect place to chill out and recharge after the parties in Airlie or Cairns. Magnetic Island has long been a favourite spot for backpackers as it is of the few remaining islands on the Great Barrier Reef that is still affordable.