there are a couple of other bars
New York bar is next to Rolling Rock (in Noosa heads)
Koala Bar is up the hill just past Reef Bar
Check out the backpackers place, Halse Lodge, that's a fucking sick place to have a few beverages in the evening! The surf club will have a couple of karaoke nights as well and that's a good option when you're on the piss too (it's packed with schoolies)
I went there last year. If you go with a good group of people (or meet a good group up there) you'll have a fucking great time. The only negative is that the place doesn't really cater for under-agers, but there's a free shuttle bus that takes people into Mooloolaba (which has underage events, but they're shit, no drinking).