All fit watherwise.

Sicily Might not fit into budget and when you get there you may find it expensive.

Madeira is nice and laid back but not sure there is a hige amount to do. It is a favourite for walkers, inland beautiful scenery and birds and fauna if that is your thing.

Malta - May fit the bill best both budget wise and things to look around and do, although most of the sights are churches there other things to see and do.

Other options to look into

Croatia
Greece - Mainland or Kos/Rhodes
Sure there others people can suggest.

Kind Regards
Stewart

Go to Madeira and walk the Levada's, irrigation chanels cut into the side of the hills with pathways alongside them. You can buy a Levada map and use the bus to get to and from. (Put Levada into Google)
The temp. in Madeira never changes more than 7 or 8 degrees all year round. For some peculiar reason it's known to always be cloudy in June. (?)
Some picture here if you want to see . . .
http://wyeman.fotki.com/film_colour/madeira/pa130017a.html
and there are pictures of a levada walk, here in the Madeira album in the photo gallery.

Peter

Madeira is lovely, but weather can be a bit unpredictable and it is very sedate.
Haven't been to Sicily but I think it's quite expensive for accommodation.
I loved Malta although you do have to get past the 'concrete jungle' appearance of the stretch from Valletta to Buggibba. The people are so friendly and helpful, food is excellent, everything is very reasonable and there are great sights to see:
Valetta is a lovely city
Mdina is a fabulous old medieval town ( the old capital I think)
And a trip to nearby Gozo ( about 45 mins by ferry) is a must. The contrast is amazing and it's just beautiful.
And for me one of the fun things was the old orange customised 1950/1960s british leyland buses. Just a trip back in time & they go everywhere. Once you've tried it you'll not want to hire a car! ( I hope they're still running). Check out the Malta board to hear other enthusiastic revewers!