Hyatt Maui / Kaanapali

NCalwake · May 22, 2015

Just toured the new building at the Hyatt Residence Club in Maui and know there have been some threads on this building in the past, but is there any view on if any reason to purchase from the developer here? As noted before, pricing for a 2 bed / 2 bath is $56K-$124K depending on week and floor band. Seems like it won't be an easy building to transfer into from another Hyatt property, but there also seems to be quite a lot of supply on Kaanapali (as well as Starwood building another 390 villas which opens in 2017 -> http://www.bizjournals.com/pacific/...to-build-new-390-villa-time-share-resort.html). Seems like other competing properties have also seen prices drop 35-50% on Kaanapali over time.

I get the sense the only reason to buy here is if you want a specific week which you will use generally year after year for many years to come. Even then, seems like there might be a better purchase price in 3-5 years, but would be curious if any thoughts. Probably have answered my own question, just trying to resist the impulse buy given how nice the units, lanais and views were. Have never owned a TS so also tough to want to jump in on a very much premium priced property in the first go-around.

Thanks

taffy19 · May 28, 2015

There is a resale posted already on Redweek for week #42 for odd years at a reduced price. It is listed by a Real Estate Broker who is also a TUG member. His name is on the ad and he is highly regarded here on TUG.

You may have a look there but you need to register or sign-in. Here is the ad #R628985.

PS. By the way, did you stop by next door and looked at the Marriott timeshare condos? They are really nice too and there are others right on Ka'anapali Beach so do not make a quick decision, if you are still there. The Marriott has many re-sale condos listed on RedWeek or here on TUG.

brigechols · Jun 9, 2015

iconnections said:
There is a resale posted already on Redweek for week #42 for odd years at a reduced price. It is listed by a Real Estate Broker who is also a TUG member. His name is on the ad and he is highly regarded here on TUG.

You may have a look there but you need to register or sign-in. Here is the ad #R628985.

PS. By the way, did you stop by next door and looked at the Marriott timeshare condos? They are really nice too and there are others right on Ka'anapali Beach so do not make a quick decision, if you are still there. The Marriott has many re-sale condos listed on RedWeek or here on TUG.

I took a tour of the Hyatt. The three bedroom is a gorgeous villa with an AMAZING lanai. DH suffered from sticker shock

and asked me to work on an exchange into this property. I told him our chances are slim to none. He sighed and happily returned to WKORVN

lizap · Jun 10, 2015

Hyatt Maui is very difficult even for other Hyatt owners to exchange into at this point.

brigechols said:
I took a tour of the Hyatt. The three bedroom is a gorgeous villa with an AMAZING lanai. DH suffered from sticker shock and asked me to work on an exchange into this property. I told him our chances are slim to none. He sighed and happily returned to WKORVN

davidvel · Jun 10, 2015

NCalwake said:
Just toured the new building at the Hyatt Residence Club in Maui and know there have been some threads on this building in the past, but is there any view on if any reason to purchase from the developer here? As noted before, pricing for a 2 bed / 2 bath is $56K-$124K depending on week and floor band. Seems like it won't be an easy building to transfer into from another Hyatt property, but there also seems to be quite a lot of supply on Kaanapali (as well as Starwood building another 390 villas which opens in 2017 -> http://www.bizjournals.com/pacific/...to-build-new-390-villa-time-share-resort.html). Seems like other competing properties have also seen prices drop 35-50% on Kaanapali over time.

I get the sense the only reason to buy here is if you want a specific week which you will use generally year after year for many years to come. Even then, seems like there might be a better purchase price in 3-5 years, but would be curious if any thoughts. Probably have answered my own question, just trying to resist the impulse buy given how nice the units, lanais and views were. Have never owned a TS so also tough to want to jump in on a very much premium priced property in the first go-around.

Thanks

Those kind of numbers are hard to comprehend. Assuming a $75,000 purchase price, and $2,500/yr MF, it would take you at least 30 years to spend that much if you rented a week for $5,000/week ($715 per night) each year.

taffy19 · Jun 23, 2015

brigechols said:
I took a tour of the Hyatt. The three bedroom is a gorgeous villa with an AMAZING lanai. DH suffered from sticker shock and asked me to work on an exchange into this property. I told him our chances are slim to none. He sighed and happily returned to WKORVN

There was one today, as you know.

I have a link to some pictures if anyone is interested but I haven't finished the album yet because I need to delete more pictures of so many I have taken and try to keep the best ones only in the album.

The 3 BR condos are amazing and are very large plus have the best views. Both the Marriott Resort oceanfront condos next door and the Hyatt Ka'anapali 3 BR bedroom condos didn't block each other's view so it was master-planned well.

newportbeach · Jun 23, 2015

Just to comment on the above. I also took the tour, and was impressed, but the
sticker shock stopped me. I recall the closer explaining how strenuous the purchase agreement and deed provided for a ROFR and how hard Hyatt would
"defend" the interests of their remaining owners by exercising a high price.

I am also a Hyatt point owner and have a waitlist request for anytime that has not been filed for the past 6 months. So yes, trading in for other Hyatt owners is not easily. The point value of 2200 for a trade seems to good to be true, and the fact that I have not gotten any trades seems to prove my suspicion.

Hope I am wrong.

Kal · Jun 23, 2015

RichardL said:
...I am also a Hyatt point owner and have a waitlist request for anytime that has not been filed for the past 6 months. So yes, trading in for other Hyatt owners is not easily. The point value of 2200 for a trade seems to good to be true, and the fact that I have not gotten any trades seems to prove my suspicion.

Hope I am wrong.

Just remember, a new owner must first decide they do not want to occupy their unit for the week they own. Then they would need to let it go into the HRC pool for selection by HRC owners such as yourself. Any HRC member at the top of the wait list would be able to confirm the reservation.

My guess is a Maui owner would rent it out themselves for maybe $3500 for the week rather than let the unit go into the HRC pool. But then one must wonder how long it will take a new Maui owner to decide they don't want to occupy their $50K to $160K purchase!

BocaBoy · Jun 24, 2015

lizap said:
Hyatt Maui is very difficult even for other Hyatt owners to exchange into at this point.

Why is this? Most weeks there have not yet been sold and I would have thought the developer would be depositing quite a few weeks into II this early. I know I saw quite a few just after the resort opened. At the very least I would have thought that other Hyatt owners could use points to get a reservation. Are they all being rented by Hyatt for cash? That does not seem likely.

BocaBoy · Jun 24, 2015

Kal said:
Just remember, a new owner must first decide they do not want to occupy their unit for the week they own. Then they would need to let it go into the HRC pool for selection by HRC owners such as yourself. Any HRC member at the top of the wait list would be able to confirm the reservation.

My guess is a Maui owner would rent it out themselves for maybe $3500 for the week rather than let the unit go into the HRC pool. But then one must wonder how long it will take a new Maui owner to decide they don't want to occupy their $50K to $160K purchase!

That makes sense if the resort had sold most of its weeks, but that is not yet the case.

wilma · Jun 24, 2015

BocaBoy said:
Why is this? Most weeks there have not yet been sold and I would have thought the developer would be depositing quite a few weeks into II this early. I know I saw quite a few just after the resort opened. At the very least I would have thought that other Hyatt owners could use points to get a reservation. Are they all being rented by Hyatt for cash? That does not seem likely.

They are sending out postcards offering $199/nt for a 2 bedroom unit if you sit through the sales spiel.

Kal · Jun 25, 2015

What you are seeing is the Hyatt marketing group using available rooms to generate sales of time share units. They could also use those unsold rooms in any way they please. However, the unsold units are rarely placed into the HRC system.

Any HRC owner cannot use their Interval points to obtain a reservation at a HRC resort. Those are HRC rules.

taffy19 · Jun 25, 2015

When we were there, the resort was well occupied and I met several couples that were there on a promotion so had to take the tour. The promotion is very reasonable to stay in a 2 BR condo. They used to have it advertised here but I don't see it anymore as I just looked again.

http://www.hyattresidenceclub.com/hvc/en/offers.html

TFTG · Jul 9, 2015

Looks like a resale is already available for Hyatt Kaanapali Beach, though I wonder if Hyatt would exercise their ROFR for this property? Week 49 for $59,900. Given that the developer pricing can be close to this right now and you would't get the "developer perks" such as gold passport option or incentives they offer, this one may be a hard sell at this price.

For anyone interested, I saw the resale on paradise timeshare resales website. I have worked with them before and they are good.

vacationtime1 · Jul 9, 2015

RandyS84 said:
Looks like a resale is already available for Hyatt Kaanapali Beach, though I wonder if Hyatt would exercise their ROFR for this property? Week 49 for $59,900. Given that the developer pricing can be close to this right now and you would't get the "developer perks" such as gold passport option or incentives they offer, this one may be a hard sell at this price.

For anyone interested, I saw the resale on paradise timeshare resales website. I have worked with them before and they are good.

That is or is awfully close to the developer price, assuming it's a two bedroom.

TFTG · Jul 9, 2015

vacationtime1 said:
That is or is awfully close to the developer price, assuming it's a two bedroom.

Yes a two bedroom unit and yes very close the developer pricing I saw. It is a lower level, floors 1-3. Interested in seeing what Hyatt will do with this in regards to ROFR.

I'm fairly new to TUG BBS and not sure if I can post the link to it?

vacationtime1 · Jul 11, 2015

RandyS84 said:
Yes a two bedroom unit and yes very close the developer pricing I saw. It is a lower level, floors 1-3. Interested in seeing what Hyatt will do with this in regards to ROFR.

I'm fairly new to TUG BBS and not sure if I can post the link to it?

I have no direct experience with Hyatt's exercise of ROFR, but I can say with certainty that they will not exercise ROFR if the resale price is 80% - 100% of the developer price. Why? Because marketing costs consumes about half of every dollar on developer sales (those freebies are not free for the person paying them, plus they pay the salespeople on commission). Therefore, unless the developer cannot ROFR for less than about half of the sale price, they will actually lose money. If you check on the Marriott board, one of the wiser, quantitative posters has calculated that Marriott will not ROFR unless the resale price is less than 23% of what they intend to sell it for -- a calculation that seems just about right to me.

Henry M. · Jul 20, 2015

I just toured this property yesterday. It is indeed very nice. One of the things that held me back, though, is the requirement to get a fixed week. I only have experience with Starwood, so perhaps this is not as bad as it seems.

For me, I can't commit to travel the same week every year. I much prefer the whole year float I get with Starwood on Maui. Can someone with Hyatt experience comment on how difficult it would be to come back to this resort in a week other than the one you buy? I actually liked the mountain view 1BR units, and they are not outrageously expensive. However, I do need flexibility on when to come. Hyatt could be a nice complement to the Starwood system. They have a few nice locations away from where Starwood has theirs.

An additional question, if I change my week, does it mean I could get either a mountain view or ocean view unit? The salespeople weren't all that clear on this. It seems all 1BR are worth the same, from an exchange point of view.

Kal · Jul 20, 2015

The unit/week you purchase has a point value. If you choose not to occupy that unit, it reverts to the HRC which in turn would be available to other HRC members. You can then use your points to request an alternate unit/week at Maui or any other HRC resort. The number of points required to reserve a Maui unit would be a function of the unit size, placement in the building and week. It would take lots of points to reserve a 3-BR unit compared to a 1-BR unit.

What is the probability of getting your reservation request granted for the alternate unit??? IMO, nil as you would then be competing with all the other HRC members who want to get a reservation at Maui.

lizap · Jul 20, 2015

At this stage (maybe later), I would not count on getting another week that you want at this new, high demand resort.

Sugarcubesea · Jul 20, 2015

iconnections said:
There was one today, as you know.
I have a link to some pictures if anyone is interested but I haven't finished the album yet because I need to delete more pictures of so many I have taken and try to keep the best ones only in the album.

The 3 BR condos are amazing and are very large plus have the best views. Both the Marriott Resort oceanfront condos next door and the Hyatt Ka'anapali 3 BR bedroom condos didn't block each other's view so it was master-planned well.

I can't even get into WKORVN with my Starwood preference, so I know I have no hope of ever scoring a unit at this resort….

Henry M. · Jul 20, 2015

Thanks, everyone. It seems the program with a fixed week is just not for me.

Are all Hyatt properties sold as fixed weeks?

jjs17 · Jul 20, 2015

Hyatt trades

The new high end resort will be tough but the others have been very easy. I've had trades filled at every resort I have tried so far with the exception of ski weeks in Aspen. Our biggest concern before buying was getting holiday weeks / prime resorts when school is out and this has been a non-issue for us.

tahoeJoe · Jul 21, 2015

Sugarcubesea said:
I can't even get into WKORVN with my Starwood preference, so I know I have no hope of ever scoring a unit at this resort….

I know this is off topic but as a fellow SDO owner, what trades has the Starwood preference gotten you? PM me if you prefer.

Henry M. · Jul 21, 2015

Do developer purchases from Hyatt lose as much value as those from Starwood or Marriott? The Hyatt sales person tried to tell us that once Maui sold out? Hyatt would put in place a resale office to try to keep up the market value of the property. Have they done anything like that elsewhere?

They also pointed at the Beaver Creek property to show how valuable Hyatt could be saying those timeshares have gone up in value over time.

Henry

Hyatt Maui / Kaanapali

NCalwake

taffy19

brigechols

lizap

davidvel

taffy19

newportbeach

Kal

BocaBoy

BocaBoy

wilma

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Kal

taffy19

TFTG

vacationtime1

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TFTG

vacationtime1

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Henry M.

Kal

lizap

Sugarcubesea

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Henry M.

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