The nightlife scene on Boracay is pretty fluid, and I am no expert on it. I am trying to find someone who is more informed about this than I to write about it. In the meantime, the following is what I have been told by friends.....
Two popular early-evening places are Hey Jude on the Beachfront Path fronting D'Mall and Nigi-Nigi's beachfront bar north of the Tourist Center. The far north and far south parts of the beach have their own local favorites -- Happy Hour at Fridays is good up north, at Nigi's in the central beach area, and at Kurt's Bar down south.
Sometime around sunset or within the few hours after, the action shifts. Charlh Bar and Summer Place are popular in the central beach, with Summer Place probably being the most popular late-night spot. Cocomanga, Pier One and Club Paraw are probably the most popular up north, with Cocomanga being the most popular. Red Pirates down south is a small, native-style bar with a great atmosphere -- it is quite popular with the local artsy crowd and some foreigner long-termers. The place to go late-night down south is probably the Sulu Star, upstairs over the Sulu Bar near boat station 3.
Crafty's Rooftop Bar atop Craft's Superstore has a panoramic view good for sunset watching and, depending on the crowd which happens to be there on any given day, can be a lot of fun after dark. If things get dull there, Crafty's is in a nice central location for jumping off either to roam other places in D'Mall (try Rhumba's and Hobbit House in D'Mall Plaza) or to head off along the beach either northwards or southwards.