A lot of people will say things like "the only good Karate Kid was the first one", and "'Hobo means 'Homeward Bound'". But I say these types of people have a special ring of Hell reserved just for them.
Karate Kid was awesome. Karate Kid II was awesome, the only reason it wasn't as awesome as the first is because the first was the original. Karate Kid III was just as good as Karate Kid II.
Everyone's familiar with the story of Mr. Miyagi and his troubled teen protege Daniel LaRusso (henceforth referred to as "Daniel-san").
So, Daniel-san's training prepares him for the film's climax: His battle against Johnny Lawrence, Cobra Kai dojo's number one student, at the All Valley Karate Tournament.
In a late match, a patsy of Cobra Kai dojo sweeps Daniel-san's leg and nearly takes him out of the competition. Mr. Miyagi uses some Japanese magic to heal him, though, and he's able to return to the competition just before Johnny Lawrence is declared the winner.
Johnny's brutal sensei, John Kreese, urges Johnny Lawrence to show no mercy; but in the end, the merciless and often under-handed teachings of John Kreese can't stand up to the discipline and self-confidence that Mr. Miyagi has instilled in Daniel-san.
Despite fighting while injured, Daniel-san is able to execute a secret technique learned from Mr. Miyagi. A near-perfect Crane Kick defeats Johnny Lawrence, and wins Daniel-san the tournament.
Congratulations, Daniel-san. You truly are the best around.