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Well since you ask. Okay, actually, there are a few posting recently with plans to visit in May, and I am going to be there too so i thought i woudl post a few of the things going on. This came from one of my favorite Budapest websites:

Budapest Pálinka Festival
Date: Apr 28, 2017 - Apr 30, 2017

Venue: Városháza Park
The Budapest Pálinka Festival is a unique gastronomic event where visitors can taste over 300 different types of Palinka

May Day (Labor Day) Celebrations in Budapest
Date: May 1, 2017
Venue: Multiple locations - Danube Promenade, City Park, Margaret Island and Népliget
In 2016, the main venue of the Labor Day celebrations will be on the banks of the Danube near Chain Bridge. The program starts at 11 am with an F1 car show followed by the Flying Bulls air show with Peter Besenyei. In addition, City Park (Városliget) will offer a variety of programs all day long. There will be special 'May Day' celebrations in Népliget and Tabán with live concerts, kid's programs and the traditional beer and sausage.

Jazz Spring
Date: May 5, 2017 - May 7, 2017

Venue: Palace of Arts
They love their Jazz in Budapest. The 2016 Jazz Spring Festival at the Palace of Arts will feature internationally acclaimed jazz performers, like José James, Viktoria Tolstoy and the Manhattan Transfer vocal ensemble. Three completely different performances are scheduled during the three nights of the concert series, yet all true to the spirit of jazz. Admission starts at HUF 2,500. For more info visit the Palace of Arts'

Rosalia - Rosé Festival
Date: May 6, 2017 - May 8, 2017

Venue: Városliget, Pest, District 14
Brought to you by the organizers of the prestigious Budapest International Wine Festival, Rosalia is Hungary's only festival dedicated to rosé wines, sparkling wines and champagnes. The three-day event features a Rosé Garden, with plenty of tasting, jazz concerts, kids programs and traditional Hungarian food paired with your wine. A rosé wine challenge is also part of the event. Entry is free. Tasting glasses with the Rosalia Festival logo are HUF 1,000.