My Waiohai is dropping like a rock! OUCH!!

The value of my Waiohai unit seems to be in a freefall according to the last two ebay auctions.

These are 2BR annual island view units. (MSRP = $40K)


$14,800.00 - This week.

$16,091.00 - Last week.

It will be interesting to see if they pass ROFR, even in this climate I doubt they will.

I sanyone tracking these sales to see if they pass ROFR...awesome price for the buyer. But they still have heafty annual dues and expensive plane tix to Hawaii.

Steamboat Bill said:

I sanyone tracking these sales to see if they pass ROFR...awesome price for the buyer. But they still have heafty annual dues and expensive plane tix to Hawaii.

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I think that is the main reason why many timeshare resale prices, especially Hawaii, dropping very quickly. I think it is only going to get worse as we all see large maintenance fee increases the coming year due to fuel costs.

The real problem with Hawaii timeshares is that people are getting a triple whammy of - poor economy forcing cutbacks in descretionary spending, high airfare costs and lack of availability, increasing maintenance fees.

But, it is going to be a good year or two for people looking to trade into Hawaii timeshares.

gmarine said:

I think that is the main reason why many timeshare resale prices, especially Hawaii, dropping very quickly. I think it is only going to get worse as we all see large maintenance fee increases the coming year due to fuel costs.

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That makes me feel much better!



(I am sorry to say that I agree.)

Steamboat Bill said:

But, it is going to be a good year or two for people looking to trade into Hawaii timeshares.

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I have noticed that already...I have seen several nice weeks come up for this summer and beyond....

Who knows if it gets real bad we will see them as getaways!!!

I used to be able to see HNL on Continental for super saver FF miles. Not anymore. There's no chance of getting to Hawaii using miles. So we won't go. The tickets are too expensive from the east coast to consider HI.

I guess this will impact my Frenchman's Cove Property as well. Since it costs so much to fly to the Caribbean even from Newark or JFK it may lose value like HI.

I agree that the Caribbean is also going to get hard.

Thank goodness for my FF miles. I was able to get a 3bdrm in Aruba with my 1bdrm Marriott and that was not within Flexchange.

On top of that, Aruba Ocean club has 10 yr refurb going on so we will have additional cost for the next 2 years.

I wonder if lot of people will try to sell their Aruba Ocean Club.

I guess time will tell.

Steamboat Bill said:

The real problem with Hawaii timeshares is that people are getting a triple whammy of - poor economy forcing cutbacks in descretionary spending, high airfare costs and lack of availability, increasing maintenance fees.

But, it is going to be a good year or two for people looking to trade into Hawaii timeshares.

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I agree Steamboat Bill, the high cost of airfares, the drop in the number of direct flights to the Big Island, and the every increasing maint fees problem will causes t/s sales in Hawaii to drop for the next few years.

I believe it takes 75,000 FF miles to go to HI on Business class ... only 5,000 less than Europe on UA partners. I'll take Europe.

Seems I'm not alone, according to USA Today (Jun30). Airports show about 1/3 of US 100 busiest airports will lose at least 10% of their domestic air service compared to a year ago. Honolulu Oahu leads the pace down 23.7%, with much of this decrease in service from Honolulu to other Hawaiian Islands. Service from the lower 48 to Honolulu is down 14.4%..

Brian

10 years ago i purchased 2 weeks at the aruba ocean club. i just loved it there and took advantage of the pre-construction pricing. about 3 months ago i sold 1 of the weeks back to marriott(broke even) for a number of reasons
1-the island has gone in a direction not to my liking. to much building going on. it is no longer the island i first visited. condos, hotels and big t/s going up all over the place. how can the infrastructure of this island possibly accommodate the influx of people, heavier traffic etc..
IMO: "THEY PAVED PARADISE AND PUT UP A PARKING LOT"
2-m'f's going up up and up.. when i first purchased, my m/f's were something like $547. this year i expect it to be around $900..with an s/a of $500 to boot.
renting is no longer as easy as it used to be. to many places on the market(and it's just going to get worse) and a poor economy do not translate to an easy rental.
3-airfares and air travel have become impossible.
4-JMO..i worry about the help they are bringing in from other places to service the hotel and restaurant industries. aruba is no longer the crime-free island it used to be(or perhaps we are just hearing about it more). it used to be advertised as ONE HAPPY ISLAND. i don't think that's true anymore(JMO)
so i decided to get out while i could and the $$ were still there. just kept the 1 week i have to use for trading.

pwrshift said:

I believe it takes 75,000 FF miles to go to HI on Business class ... only 5,000 less than Europe on UA partners. I'll take Europe.

Seems I'm not alone, according to USA Today (Jun30). Airports show about 1/3 of US 100 busiest airports will lose at least 10% of their domestic air service compared to a year ago. Honolulu Oahu leads the pace down 23.7%, with much of this decrease in service from Honolulu to other Hawaiian Islands. Service from the lower 48 to Honolulu is down 14.4%..

Brian

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Notice that CAL is not offering business class flights from IAH to HNL using FF miles - neither EasyPass nor SaverPass. This is in spite of the fact that they have two large plane nonstops daily.

As I am trying to start planning for next summer's trip to Hawaii, I looked this weekend for the month of May 2009. Nothing was there so I called CAL and asked about this. I even asked asked about FF upgrades. They said "no can do."

Terry

pwrshift said:

I believe it takes 75,000 FF miles to go to HI on Business class ... only 5,000 less than Europe on UA partners. I'll take Europe.

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Those are advertised prices that seem to NEVER be available. I flew to Hawaii and had to pay 50,000 just for coach and I needed 4 tix.

I am also seeing no 25k for coach or 45k for first class to Utah for my yearly ski trip via Delta as they want 50k and 90k respectifully. I may actually pay cash for the first time in a long time.

I don't see that as dropping. Last I checked, about 2 years ago, Waiohai units were worth about $10,000 resale. Didn't matter if they were island view or ocean view.

Why buy when you can exchange for the cost of an AC? About $300 plus tax.

I agree with most of what has been said above. I live in So. Cal. We got our FF seats for our Oct. '08 Kauai trip on HA back in April before Aloha's demise. I recently checked the price on HA for economy seats for the same dates, (just to see what the price was) approx $1000.00/pp from LAX!!

I began to worry what to expect to pay now to go to St. Thomas. So I then checked the same dates from LAX to St. Thomas: $466.00 RT!!! I was shocked. We paid over $700/pp last Oct. This was on AA, daytime flights with only one stop. I don't understand. There are not that many more planes going to St. Thomas than Hawaii. I only hope (most likely in vain) that the prices stay the same for next year.

We usually go to Hawaii at least once per year. I think those days are over. If we do go, we will spend far less on food and activities since airfare will be such a big chunk of the budget.

AA still showing excellent base award availability to Hawaii.

By far the best FF program for availability (still) and always where I funnel my travel package miles.

Unless BA's offering a bonus, of course, and then I funnel them to BA and use those miles on AA. Two or three years ago they had a 50 percent bonus and I netted 180k BA miles on a travel package. Then I got the credit card and piled up a few more, which is the source of my 5 RTs to Hawaii in a few weeks.

We're staying in a 2BR Marriott Maui, nabbed last week. Lucky timing with the downturn and all.

Hoc said:

I don't see that as dropping. Last I checked, about 2 years ago, Waiohai units were worth about $10,000 resale. Didn't matter if they were island view or ocean view.

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I bought my resale unit in early 2006. The resales then were closer to $19-20K for EY and $11-12K for EOY.

thinze3 said:

I bought my resale unit in early 2006. The resales then were closer to $19-20K for EY and $11-12K for EOY.

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I'm sorry. I was thinking of Kauai Beach Club. Waiohais were going for more at the time.

irish said:

10 years ago i purchased 2 weeks at the aruba ocean club. i just loved it there and took advantage of the pre-construction pricing. about 3 months ago i sold 1 of the weeks back to marriott(broke even) for a number of reasons
1-the island has gone in a direction not to my liking. to much building going on. it is no longer the island i first visited. condos, hotels and big t/s going up all over the place. how can the infrastructure of this island possibly accommodate the influx of people, heavier traffic etc..
2-m'f's going up up and up.. when i first purchased, my m/f's were something like $547. this year i expect it to be around $900..with an s/a of $500 to boot.
renting is no longer as easy as it used to be. to many places on the market(and it's just going to get worse) and a poor economy do not translate to an easy rental.
3-airfares and air travel have become impossible.
4-JMO..i worry about the help they are bringing in from other places to service the hotel and restaurant industries. aruba is no longer the crime-free island it used to be(or perhaps we are just hearing about it more). it used to be advertised as ONE HAPPY ISLAND. i don't think that's true anymore(JMO)
so i decided to get out while i could and the $$ were still there. just kept the 1 week i have to use for trading.

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What would a 2 bedroom gold resale for with Marriott?

zac495
don't know the answer to your question. call marriott resales and they can tell you.

I agree with many of your statements about Aruba and its overbuilding -- somewhat similar to St. Maarten -- my 'used-to-be' favorite island.

Three Waiohai Islandviews on Ebay

Hi Everyone... first post.

There are currently three Waiohai Island View units for sale on Ebay.

In the past I doubt the latest $14,800 and $16,091 purchases would have passed ROFR - perhaps it will be different in today's environment.

Jason

Wecome to TUG!!

Jason,
I couldn't agree with you more about the possibilty of getting past ROFR at this time. ANYTHING is possible to pass. IMO

Terry

Jpollo said:

Hi Everyone... first post.

There are currently three Waiohai Island View units for sale on Ebay.

In the past I doubt the latest $14,800 and $16,091 purchases would have passed ROFR - perhaps it will be different in today's environment.

Jason

Click to expand...