If you are going to Cyprus in the summer, you'll need to gauge your activities to account for the arid, dry heat that overwhelms the island. That means unless you are from some place like Nevada, it will take a while to acclimate. Even the Med is hot during the summer months!
There's a degree of local night-life in the hotel districts, due to the way Cypriot visas work, you can expect to see older chaps dancing with women around 30+ years younger...
There's some Greek ruins that you'll need taxis or similar to reach.
For me, the most attractive feature of Cyprus is the cuisine. The Cypriot specialty is 'kleftiko', and it's superb!
But if you're looking for the complete young crowds 'night-life-in-the-Med' experience, check out Ibiza.