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ROFR for Starwood may increase

The following two were exercised recently.
2 Bed Lock off OF odd at WKORVN for $14,100
2 Bed Lock off Deluxe OF annual at WKORV for $33,300

2 Bed Lock off Ocean View annual at WKORVN for $20,275 was waived
2 Bed Lock off Center OF week 51 annual at WKORV for $35,000 was waived
 
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Feckman, we own OV at WKORV and OF at WKORVN. I think some of the best OV villas at South have better views than some OF villas at North. South villas are larger, have full kitchens with ovens, dining table for 6 (vs 4 at North), and lower MF's. They do not have the second balcony on the LO studio, though. The villas I would not want to own are IV at South.

Very good info, thanks! I'm sure we'll be good either way, but I didn't realize that the North property doesn't have a full kitchen or seating for 6. That's actually pretty important for us.
 
Thanks much! I almost hope it does fail -- we've heard from a few people that OV units in the North property generally have better views than those in South. This left us feeling that we should've made an offer there.

I wouldn't want to be placed in a Bldg 4 ocean view unit because it's set farther back and looks out over a parking lot. Generally speaking, north has more reliably good rooms. If I was to buy OV, I'd target the north side.

http://www.hawaiirevealed.com/free-...ali-area/westin-kaanapali-ocean-resort-villas
 
Very good info, thanks! I'm sure we'll be good either way, but I didn't realize that the North property doesn't have a full kitchen or seating for 6. That's actually pretty important for us.


The non-studio units at North have full kitchens. The only problem with the kitchen is that it has a convection oven that is not intuitive to use. That's all.

The dining tables at North seat only 4.
 
The non-studio units at North have full kitchens. The only problem with the kitchen is that it has a convection oven that is not intuitive to use. That's all.

The dining tables at North seat only 4.

...and the South side OVs only have lanais on the 1 bdrm side and a juliette balcony on the studio. The North has a lanai on both sides.

The south tables seat 6 and the living rooms are appreciably larger.
 
Following is a detailed description of the villa units in the Westin Kaanapali Ocean Resort Villas. The amenities in both phases can be used by all guests.
THERE ARE FOUR FLOOR PLAN TYPES:
A description of each of the four floor plans, which includes the view types available and annual maintenance and property tax information, follows.
The island view units face the road and the West Maui mountains.

1.DELUXE two bedroom lock off – 1,550 square feet:
One bedroom premium is 1,038 sq. ft. and the studio premium is 512 sq. ft.
All are corner units
There are lanais off the living room, master bedroom and studio
Buildings 2 and 3 have Ocean Front types, Buildings 2, 3 and 4 have Ocean View types and Building 4 has the Island View type unit
The deluxe ocean front units have the living room and the master bedroom facing the ocean and have a 180 degree view of the ocean with the studio portion is on the side of the building.
Annual Maintenance Fees and Property Taxes are $2,881.32

2. PREMIUM (Center) 2 bedroom lock off - 1400 square feet:
One bedroom premium is 900 sq. ft. and the studio premium is 500 sq. ft.
They are the center ocean front units located in Buildings 2 and 3 only
One unit on each floor
All three rooms face the ocean directly, with a 180 degree ocean view, and have a lanai off each room
Annual Maintenance Fees and Property Taxes are $2,091.04

3. Two bedroom lock off - 1400 square feet:
One bedroom premium is 900 sq. ft. and the studio premium is 500 sq. ft.
Lanais off the living room and master bedroom, juliette balcony only off the Studio
Buildings 2, 3 and 4 have the ocean view type and Building 4 has the island view type Annual Maintenance Fees and Property Taxes are $2,091.04

4. One bedroom premium - larger than 900 square feet:
This type of unit is available only in the ocean view category
Lanais off the living room and bedroom
Located in buildings 2, 3 and 4
Annual Maintenance Fees and Property Taxes are $1,764.25
Floor plan types 1, 2 and 3:
One bedroom portion of the lock off
The dining room table in the living room seats 6.
There is a 4-burner cook top, an oven and a convection/microwave oven, full size refrigerator, dishwasher and washer/dryer
There is a king bed in the bedroom and queen size sofa bed in the living room
Studio premium
Has a small dining table for two
There is a 2-burner cook top and convection/microwave, full size refrigerator, dishwasher and washer/dryer
There is a king bed and a queen size sofa bed
Floor Plan Type 4:
One bedroom premium ocean view
Dining table in the living room seats
There is a 4-burner cook top, an oven and a convection/microwave oven, full size refrigerator, dishwasher and washer/dryer

Now for a description of the Westin Kaanapali Ocean Resort Villas North, which are in buildings 5, 6, 7 and 8

The buildings are angled providing some ocean views from the island villa units
The ocean front units don't all have direct oceanfront views
All units in Building 8 and some in Building 5 are considered ocean front
Ocean View units are in Building 7 and Island Villa units are in 5, 6 and 7
There is only one floor plan available in Oceanfront, Ocean View and Island Villa types.
Some of the Island Villa units have a view of the ocean and the pools. Some have pool and koi pond views and some have only a koi pond view
The Island Villa units don't face the road

Following is a description of each of the floor plans and annual maintenance and property tax information.

2 Bedroom lock off type - 1230 square feet:
One bedroom premium is 750 sq. ft. and the studio premium is 480 sq. ft. There are lanais off both sides of the lock off

One bedroom portion of the lock off description:
The dining table in the living room seats 4.
There is a 4-burner cook top, no oven but a convection/microwave oven, full size refrigerator, dishwasher and washer/dryer.
There is a king bed in the bedroom and queen size sofa bed in the living room
The Studio premium description:
Has a small dining table for two
There is a 2-burner cook top and convection/microwave, full size refrigerator, dishwasher and washer/dryer
There is a King bed and a queen size sofa bed
The Annual Maintenance Fees and Property Taxes are $2,344.44

NOTE:
If this is your first purchase of a Starwood timeshare, add $130.21 SVN Club fee.
If it is your second purchase of a Starwood timeshare, add $34.37 annual SVN Club fee. If it is your third purchase the SVN Club fee is zero.

Bi-annual fees are 1/2 the annual fee plus a $20 bookkeeping fee and add the applicable SVN Club fee.
 
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The island view units face the road and the West Maui mountains.

1.DELUXE two bedroom lock off – 1,550 square feet:
One bedroom premium is 1,038 sq. ft. and the studio premium is 512 sq. ft.
All are corner units
There are lanais off the living room, master bedroom and studio
Buildings 2 and 3 have Ocean Front types, Buildings 2, 3 and 4 have Ocean View types and Building 4 has the Island View type unit

The Island View Deluxe units in the one corner of building 4 (the 1BR side being units 4x21) actually face directly over the pool and towards the ocean.

They were marketed as "pool view" by some sales persons...
 
They were marketed as "pool view" by some sales persons...

I wonder how misled the people who bought "pool view" and were assigned a parking lot view felt. Because the actual deeded view of both is "Island View."
 
I wonder how misled the people who bought "pool view" and were assigned a parking lot view felt. Because the actual deeded view of both is "Island View."

I hate to say it, but we were one of those, that particular unit being our first purchase a long time ago, when were young and naïve.

We eventually realized our oops about 3yrs later :eek: when we found TUG and started paying more attention...

We've been lucky that we've actually ended up with that unit on the 6th floor every time we've made a home Resort booking, and I think we've gotten better views than some of the OV units
 
1.DELUXE two bedroom lock off – 1,550 square feet:

2. PREMIUM (Center) 2 bedroom lock off - 1400 square feet:

3. Two bedroom lock off - 1400 square feet:

4. One bedroom premium - larger than 900 square feet:

Hi Syed (how's it going?) -

The square footage that you stated for WKORV is only the interior area and does not include the lanai (balcony) area.
From pages 264-271 of the Owners' Manual - the Net Living area (net interior plus net lanai area) is as follows:

Villa Type: ~Area (sqft)
1Bd Prem: 995 sqft
2Bd LO Prem: 1475 sqft
2Bd LO Prem (OF): 1700 sqft
2Bd LO Dlx: 1810 sqft
(Note: The OF premium has a lanai off of the studio, and why it is larger than the standard Premium. Also, the view from the Dlx is >180 degrees since you can also see from the side of the lanai of the 1Bd side - for example: can also see the pool area and the mountains - so more like 270 degrees, and even greater if the view from the windows on the side are included)
 
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David, Thank you for the information on the lanai square footage. I will go back and include it in the Unit descriptions
 
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Starwood exercised the following:

WKORV
One bedroom Premium Ocean View Odd year with 2015 usage for $5100
Two bedroom L/O Ocean View annual with 2014 usage for $16,500
WKORVN
Two bedroom L/O Oceanfront annual with 2014 usage for $23,500

And Waived:
Two bedroom L/O Ocean view annual with 2014 usage at WKORV for $18,800
 
Thank you, Syed. Does "2014 usage" mean the Seller paid next year's MF's and rolled it into the sales price, or simply that Buyer's usage begins in 2014? I know many contracts are including MF's and closing costs to try to tamp down ROFR by Starwood.
 
David, Thank you for the information on the lanai square footage. I will go back and include it in the Unit descriptions

For example: Here is a listing of WKORV villa sizes (Net Interior, Lanai, and Total sqft) along with Valuation/Common Interest from Owners Manual for B2, Floors 5-6. As you can see, not all villa types are equal in size. (sorry... a bit fuzzy)

60a7cc8f6c087041c9199732333285f7_zpsb9dbc25a.jpg
 
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Thank you, Syed. Does "2014 usage" mean the Seller paid next year's MF's and rolled it into the sales price, or simply that Buyer's usage begins in 2014? I know many contracts are including MF's and closing costs to try to tamp down ROFR by Starwood.

The 2014 usage means buyer usage and annual fees to start in 2014 and is not included in the total price. However, the $800 in closing is included in the price. Starwood seems to be a little more aggressive, in their buy back, than they were a few weeks ago.
 
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For example: Here is a listing of WKORV villa sizes (Net Interior, Lanai, and Total sqft) along with Valuation/Common Interest from Owners Manual for B2, Floors 5-6. As you can see, not all villa types are equal in size. (sorry... a bit fuzzy)

David, I really appreciate this information. I had someone ask me about lanai square footage today and was glad to have it available.
 
Another 2 bed OF at WKORVN was exercised for $23,300.
 
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David, I really appreciate this information. I had someone ask me about lanai square footage today and was glad to have it available.

Not a problem - I had this from the time I calculated MF$/sqft. The lanais for the 2Bd Dlx adds a lot of sqft - the studio side is about 9x10, and the 1 Bd side is 8x25. We spend a lot of time on ours, and what i love about the OFD. This info is in the OM - I think I have it in 3 parts (PDF) - thought I got it from you originally (?) - I could send you if you want (large files) - if you don't have it. I should still have your work email.
 
David, Sorry for the delayed response. Thanks for the offer. I found it. Mahalo
 
WKORV eoy odd IV exercised today at $6,800. Buyers first use 2015.

WKOR-N eoy even IV exercised at $7,500. Buyer pays 2013 fees.
 
The WKORV 2BR OV unit we had a $17K offer on was exercised.

Sorry to hear it didn't get past ROFR, feckman. Are you going to try for another?
 
Sorry to hear it didn't get past ROFR, feckman. Are you going to try for another?

Thanks, I appreciate it! I think we'll try one more time. The whole ROFR process rubs me the wrong way, but I think we'll give it another try at a slightly higher level and see what happens. If that fails, we'll likely fall back on something else.

I understand that ROFR can be beneficial to existing owners, but I don't like how it artificially inflates market value...or how it exploits both owners and unwitting retail buyers by allowing Starwood to cherry-pick intervals and resell them at huge profits.

The more I learn about how Starwood runs their resorts, the less inclined I am to purchase any of their properties. Although it sounds like most developers/management companies have their share of warts. That's what sent us to WKORV from KBC when we stayed there in January. We liked the KBC property and loved the location, but the timeshare presentation and all the slimy Diamond propaganda made me feel like I needed a shower. :mad:
 
Sorry about the ROFR, but as you said - as an Owner am glad there is a ROFR for multiple reasons. I do not feel exploited - and it is apparently the market value. Especially beneficial when posted here on TUG. Good luck on the next - the ROFR was much lower just a short time ago. I know people who can't give away their DRI points (if they are the same thing...).
 
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