Karate Kid 2 is my least favorite of the original trilogy. It's better than the Jaden Smith or Hilary Swank films but that's not a high bar.
Karate Kid 3 was my favorite and I used to visit the old IMDB boards for it all the time because it was an unofficial Cobra Kai fan club of sorts. This was before the CK series also. It was just people ironically discussing the teachings of Cobra Kai are the keys to life and how Daniel LaRusso is a cheating punk. That's why Ive enjoyed this series so much, it brought some of that to life. However the supporting cast in KK3 is the best, IMO, with Terry Silver, Mike Barnes, Kreese, and Snake. I still hold out hope Mike Barnes and Snake make appearances. Sean Kanan, who played Barnes, still acts and has spoken highly of the series but who knows if he's in their plans.