An octopus would be okay, but it wouldn't be a very exciting tank. I prefer a smaller tank for an octopus, simply because it's easier to cover, easier to clean, and you'll see more of the octopus. However, I wouldn't recommend an octopus as a beginner's first critter. If you get a female (highly likely, unless you can collect your own), she will lay eggs and die within a few months--not a great, feel good, experience. An octopus tank must have a secure, tight fitting cover to prevent escape. Corals would be safe, but any inverts or fish would be snacks. Not the best for a large tank.
I would go with a pygmy angel (Potters, or Bicolor), a trio of chalk basslet, maybe one of the hardier butterflies, and then a pile of inverts. I tend to prefer lightly stocked tanks, since you'll see better personalities within the fish.