What would activate first, an Item, or an ability?

Question

E.g. my opponet used a water type move, and my Vaporeon had an Absorb Bulb, and the ability Water Absorb. What would activate first?

Answer 1

The ability would activate first.

Source: Experience, as it already happened to me.

Answer 2

#1) The Ability
#2) The Item

Absorb Bulb's effect would be ignored.
Source: Experience.

Answer 3

>The Absorb Bulb boosts the holder's Special Attack by +1 when it is hit by a Water-type move, and is consumed upon use. Does not grant immunity to Water-type moves. If held by a Pokemon with Water Absorb, Storm Drain, or Dry Skin, the ability will activate first if a Water-type move is used, so the Absorb Bulb's effect will not activate, unless the holder's ability is changed.

The ability would activate, and the Absorb Bulb's effect will be ignored.

Source