The performance of the High Altitude Water Cherenkov Gamma-ray Observatory (HAWC) is mainly shaped by its event reconstruction methodologies, which take as input only the footprint left on the ground by the air shower. We discuss here the revamped reconstruction algorithms, including noise suppression cleaning, a refined core reconstruction method using simulations to fit hit observation, addressing systematic error sources in direction reconstruction, and a new gamma/hadron separation approach based on a more accurate model. As a result, HAWC's angular resolution and gamma/hadron separation reach an improvement of a factor of 2 and 3, respectively, at the highest energies for highly inclined showers and can now observe the Galactic Center at a significance of over 5$\sigma$. Furthermore, we verify the overall performance improvement by observing the Crab Nebula as a reference source which we observe at 250$\sigma$ using 2434 days of data.