One of my friends wanted to make use of his ANA miles that are close to expiring and I suggested him to travel to Portugal and explore Madeira (review) and Azores islands (review).
ANA mileage club is one of the best ways to book round-trip open-jaw awards with TAP Portugal airlines (see image below). After a recent devaluation, the ANA mileage club charges just 100K miles and $93 in fees to book a round-trip business class flight including the business class connections within Portugal.
TAP Portugal Business Class
TAP Portugal A321neo flights have a decent hard product (full flat bed) and an excellent soft product; they offer a comfortable way to travel to Portugal.
Accommodation in Funchal
I highly recommend staying at Hotel Quinta Do Furao located in Santana, Funchal (Booking.com link), which has a breathtaking location and reasonably priced.