I've stayed in Cebu City & Mactan Island.
Yes, there's P4P in the city areas.
Worth noting it is more expensive than Angeles City for P4P.
I had my GF with me at the time.......I did get a "leave pass" one night & I beReviewiended a taxi driver & went out barhopping......I suppose I've been spoilt by AC, so I wasn't that impressed.....In fairness though...I was probably only skimming the surface with the 5-6 bars I visited.
If you are wanting water & P4P combined, I'd suggest you take a look at Subic Bay as a destination.