Madeira I would go for, nice restaurants, friendly people, no rowdies, hire a car and explore the island slowly, some parts are very different to others, visit the botanical gardens too and try the local dishes, dont forget the "sleigh" ride in the traditional wicker basket, great fun. Leisurely strolls in the evening and all those lovely wild flowers growing everywhere, we even saw orchids growing on the side of the road.
If I ever win the lottery I would definately retire there and I am a bit of a globe trotter, seen most of the world.
have a good break wherever you choose, but Egypt would be my last on the list choice.Cyprus would be no2 after Madeira.