To get there, we caught a ferry from the Central Ferry pier. It took about 45 minutes to get to the island. After that, the buses are waiting outside the ferry terminal and clearly marked for the temple. The journey took over half an hour, but there were stunning views on the way. The large Buddha on the hill is visible from far away (on a clear day which it wasn't when I went there) without even having to climb the 200+ steps to get right up to the statue.
There is a vegetarian restaurant at the bottom of the hill with a confusing ordering system. You must buy your meal ticket from the adjacent souvenir counter and present it at the restaurant door. They will give you a table number and you just sit there until they bring you the set menu. And there was a lot of food and it was all delicious.
The statue is fairly new and you can find the history from the exhibition hall inside the plinth. Be warned that this trip may take a lot longer than you anticipated, but it is worth the time and effort, I believe.