There are several ways to get to Boracay from Manila:

AIR

This is undoubtedly the easiset and quickest way to Boracay.  It is unfortunately, not the cheapest.  There are 2 flight options to Boracay: the quickest is to fly directly to Caticlan on one of the airlines listed below, then take a tricycle to the port of Caticlan.  A 15 minute banca ride takes you to Boracay.

The second option, with no real advantages, is to fly to Kalibo, then take a 1.5 hour van or bus ride to the port of Caticlan.  Then take the 15 minute banca ride to the island of Boracay.  Most people take this option when cheap flights to Caticlan have been exhausted, or when they have the bad luck of having their flight to Caticlan cancelled (due to airline revenue issues) and being redirected to Kalibo.

Airlines include:

Asian Spirit

Cebu Pacific

PAL Express

SEAir

When shopping for airfare, do a bit of research to make sure you get the cheapest possible fare.  Sometimes moving your arrival or departure dates by a few days can save you quite a bundle.  The airfare to Caticlan can be as low as Php 1,800 round trip.  Regular fare should be around Php 2,600-4,000 return.

SEA

Several shipping lines operate ferries to Caticlan.  This is not a bad way to spend the night.  Tourists may want to consider this because most ferries leave Manila in the early evening and arrive in Caticlan early in the morning.  This allows the tourist to save on one night's accomodation and to get an early start in paradise.

The schedule seems to change, especially during the off-season (June-November) so make sure to check.

MBRS

Negroes Navigation

SuperFerry

LAND

It is also possible to get to Boracay from Manila by bus or by van (also known as a cutting trip).

A direct trip by bus is possible from Cubao, Quezon City.  The bus liners servicing Boracay include Alps, Ceres and Dimple Star which costs about Php 1,200 per person, takes about 12 hours, and includes 2 ferry rides (from Batangas to Calapan and rom Roxas to Caticlan).  You take the same bus from Cubao to Caticlan.  You get off the bus to take the ferry, but can leave your belongings on the bus during the ferry portions.

The "cutting trip" is a bit more involved but it costs about Php 200 less and can take as few as 8 hours.  Be warned, however, that it can take as long as 24 hours depending on your timing.  From Cubao, Pasay along EDSA, Buendia, or Alabang take any bus to Batangas pier to catch the ferry to Calapan, usually every hour.  The fast crafts take a little over an hour and cost about Php 100 mroe than regular ferries.  Starlite is recommended, cheaper but not too slow; other ferries include Baleno, Maharlika, and Montenegro.  From Calapan, catch a van to Roxas which leaves when full.  The ferry from Roxas to Caticlan is the trickest bit, it can make or break the entire "cutting trip" experience.  This ferry is VERY unpredictable: normal departures are at 2:00 am, 8:00 am, and 12:00 nn but it really depends on the boats.  Make sure you don't take the 6:00 pm ferry, otherwise you get to spend the night in Caticlan.  Caticlan to Boracay trips stop from 9:00 pm to 5:00 am, so may well end up spending the night at the Jetty Port.