Are you with kids? How old? We first stayed in el Medano it is right next to the southern airport (you dont really hear the planes) but it is a 5 minute taxi and great for the first night or two while you get your bearings. It is a spanish town mostly, few English and loads of great Spanish eateries for Spanish people. We really liked it there. Hired a car from an Argentinian guy called Henry - he was also excellent and even drove us to the airport on our way home. I can give you his company deets if needed.
We booked a hostel in the north - the nature reserve/national park, beautiful an rugged, mad roads up twisty mountains. If you do this - stipulate your own room or you end up sharing - not keen, not with kids.
Then stayed a few nights in a weird town on the other side of the island - cannot remember name, was not all that. Then back down to the tourisyty bit - Adeje - not as big as the the main drag areas but still pretty touristy and Britih pubs, food etc. We did have a laugh and basically got pie-eyed every night when we were there. It has the Siam Park water park - the best in the world they say. Had an excellent day the but gets mad queues etc on weekends and school hols.
It isnice to have the two extremes, hostels then brits on the piss, kind of makes you appreciate both!