Buying MKO Advice....

[dagger1]

We are going to buy an EOY MKO 2/2 or 3/3 OV, hopefully within the next couple of weeks. We've made one offer for an EOYE 2/2 OV, but it was not accepted. So we are back to square one. I understand, thank you TUG, that it will probably be a minimum of 90 days from offer accepted to ability to make a reservation. This would mean if we made a successful offer next week, the soonest we could make a reservation for 2018 would be in November 2017. My question is, due to this late 2017 date, should I avoid an EOYE (2018 usage) and buy an EOYO (2019 usage)? We would like to go to Hawaii in 2018, but I would hate to buy an EOYE and then find out that there is a lack of availability for most of 2018.
Any advice would be greatly appreciated!!

 

[vacationtime1]

I would buy EOYO starting in 2019 and rent in 2018 if you want to go sooner.

If you don't close until November (pessimistic, but perhaps realistic), the only 2018 weeks that will still be available for reservations will be the leftovers.

 

[GregT]

Can you travel in shoulder season? That would increase your flexibility.

I would start making offers in both Odd and Even, and see which you are able to find a seller first.

Once you have found your seller, ask them to make a reservation for you and give them lots of options on timing that would work for you. When I bought my MKO in September last year , I asked seller to make an August reservation for me, and it worked fine.

Good luck!

Best,

Greg

 

[dagger1]

Can you travel in shoulder season? That would increase your flexibility.

I would start making offers in both Odd and Even, and see which you are able to find a seller first.

Once you have found your seller, ask them to make a reservation for you and give them lots of options on timing that would work for you. When I bought my MKO in September last year , I asked seller to make an August reservation for me, and it worked fine.

Good luck!

Best,

Greg

Thanks, Greg. We can travel anytime except week 23 (Hyatt Wild Oak Ranch), week 4 (Hyatt Mainstreet Station), and week 30 ((Hyatt Mainstreet Station). Other than those weeks, we can go to Hawaii anytime. (What is shoulder season in Hawaii)?So if I buy a MKO EOYE first use 2018, I should ask the owner to check on available dates and then reserve a week for us.). Makes sense, thanks.

 

[mjm1]

Can you travel in shoulder season? That would increase your flexibility.

I would start making offers in both Odd and Even, and see which you are able to find a seller first.

Once you have found your seller, ask them to make a reservation for you and give them lots of options on timing that would work for you. When I bought my MKO in September last year , I asked seller to make an August reservation for me, and it worked fine.

Good luck!

Best,

Greg

Dagger1, we used the same strategy and the seller was very happy to assist. It worked out well.

Good luck with your search.

Best regards.

Mike

 

[hangloose]

Agree with GregT. If you truly want an MKO EOY starting in 2018, start making offers. Once you find a seller at the right price you want to pay, just ask them to make a 2018 reservation for you on a date that works in your schedule. Then when you close, that week will just transfer to you. It sounds like you are fairly flexible with 2018 dates, so I imagine they will be able to reserve a week for you that works...especially given the abundance of MKO 2BR OV units. I think you will be successful.

In my search for MKO 2/2 Annual or MKO 3/3 Annual, I've made several offers across many sites, brokers and individual sellers over the past few weeks. I've found much more MKO 2/2 inventory than MKO 3/3 inventory. Pricing reflects that (2BR is low, 3BR is high). Given you want EOY, I expect an MKO 3/3 EOY may be a bit challenging or will take longer to locate. Luckily, I appear to have found the MKO week I want and the seller reserved a week for me in 2018 without issue. We will close in a month or two.

 

[dagger1]

Agree with GregT. If you truly want an MKO EOY starting in 2018, start making offers. Once you find a seller at the right price you want to pay, just ask them to make a 2018 reservation for you on a date that works in your schedule. Then when you close, that week will just transfer to you. It sounds like you are fairly flexible with 2018 dates, so I imagine they will be able to reserve a week for you that works...especially given the abundance of MKO 2BR OV units. I think you will be successful.

In my search for MKO 2/2 Annual or MKO 3/3 Annual, I've made several offers across many sites, brokers and individual sellers over the past few weeks. I've found much more MKO 2/2 inventory than MKO 3/3 inventory. Pricing reflects that (2BR is low, 3BR is high). Given you want EOY, I expect an MKO 3/3 EOY may be a bit challenging or will take longer to locate. Luckily, I appear to have found the MKO week I want and the seller reserved a week for me in 2018 without issue. We will close in a month or two.

There is a 3/3 EOYE on Redweek, but first use is 2020, meaning three MF payments before year of use... Just too far out for us...

 

[Quadmaniac]

There was a similar discussion a couple of weeks back about MKO, but would EY not be an option ? From an economic standpoint, EOY seems to be 2/3-3/4 of EY, so for the extra few bucks, it might be worthwhile for an EY and you can choose what years you want to go and rent out the ones that you don't end up going. You'll usually easily cover the MF and sometimes make about $1000 so it will actually offset the EOY you want to go lowering your actual cost of owning it. Just a thought that might be a consideration ????

 

[dagger1]

There was a similar discussion a couple of weeks back about MKO, but would EY not be an option ? From an economic standpoint, EOY seems to be 2/3-3/4 of EY, so for the extra few bucks, it might be worthwhile for an EY and you can choose what years you want to go and rent out the ones that you don't end up going. You'll usually easily cover the MF and sometimes make about $1000 so it will actually offset the EOY you want to go lowering your actual cost of owning it. Just a thought that might be a consideration ????

Yes, you are right, and we are considering an annual MKO. But we know that we would only go every other year, and I have hesitated because because I have never really wanted to be in the rental business. On the other hand, most MKO 2/2 7 night rentals look they go for just a little over the $2200 MF, so maybe we should just rent....

 

[Quadmaniac]

Yes, you are right, and we are considering an annual MKO. But we know that we would only go every other year, and I have hesitated because because I have never really wanted to be in the rental business. On the other hand, most MKO 2/2 7 night rentals look they go for just a little over the $2200 MF, so maybe we should just rent....

That's also a very reasonable option as well. I don't find the prices that high above MF and occasionally on high demand weeks, it might rent for a bit more but $2200 is a good deal, but more consistently expect to pay $2700-3000. I guess it depends how much effort and money you want to put into it. If you're only paying a $100-900 premium every second year, you can see what makes more economic sense for you.

If you buy, you are tied down to it and you would rent it out every second year offsetting/lowering your costs to go, but at the same time when you do sell your unit eventually, you will get money back.

Renting you can choose a time and just go, but you are dependent on when its available and what price.

A third option might be, as you seem flexible with your travel dates, is to get a cheap trader and trade in for about $850 per week using a lock off.

Lots of options, just depends what you want to do, how much work you're prepared to put into it and how much money you want to throw at it and what you're ok with for cost.

 

[dagger1]

That's also a very reasonable option as well. I don't find the prices that high above MF and occasionally on high demand weeks, it might rent for a bit more but $2200 is a good deal, but more consistently expect to pay $2700-3000. I guess it depends how much effort and money you want to put into it. If you're only paying a $100-900 premium every second year, you can see what makes more economic sense for you.

If you buy, you are tied down to it and you would rent it out every second year offsetting/lowering your costs to go, but at the same time when you do sell your unit eventually, you will get money back.

Renting you can choose a time and just go, but you are dependent on when its available and what price.

A third option might be, as you seem flexible with your travel dates, is to get a cheap trader and trade in for about $850 per week using a lock off.

Lots of options, just depends what you want to do, how much work you're prepared to put into it and how much money you want to throw at it and what you're ok with for cost.

Thanks, great advice Quadmaniac!

 

[Dean]

We are going to buy an EOY MKO 2/2 or 3/3 OV, hopefully within the next couple of weeks. We've made one offer for an EOYE 2/2 OV, but it was not accepted. So we are back to square one. I understand, thank you TUG, that it will probably be a minimum of 90 days from offer accepted to ability to make a reservation. This would mean if we made a successful offer next week, the soonest we could make a reservation for 2018 would be in November 2017. My question is, due to this late 2017 date, should I avoid an EOYE (2018 usage) and buy an EOYO (2019 usage)? We would like to go to Hawaii in 2018, but I would hate to buy an EOYE and then find out that there is a lack of availability for most of 2018.
Any advice would be greatly appreciated!!

I'd look at the best long term option and not worry too much about a single year (2018). If you buy with next years week and can't get what you want, you can always rent it or exchange it and possibly exchange back in for what you do want. As for the EY vs EOY, it depends. There was an EOY odd week that closed on ebay overnight that went for just under $2300 with free closing. Now it might get taken ROFR but there's no harm at those prices if you want to own anyway. The other option, and likely a better one for many in this situation, is just using trust or DC points. That may not work well for the other islands but for Ko Olina I think it will and give other options as well.

 

[dagger1]

I'd look at the best long term option and not worry too much about a single year (2018). If you buy with next years week and can't get what you want, you can always rent it or exchange it and possibly exchange back in for what you do want. As for the EY vs EOY, it depends. There was an EOY odd week that closed on ebay overnight that went for just under $2300 with free closing. Now it might get taken ROFR but there's no harm at those prices if you want to own anyway. The other option, and likely a better one for many in this situation, is just using trust or DC points. That may not work well for the other islands but for Ko Olina I think it will and give other options as well.

I saw that eBay auction, it was MV 2019 use. The best OV I have seen was about a year ago, $4850 for a 2/2 OV and that included closing/transfer. I am not currently a MVC owner, so don't have Trust or DC points, I am not really sure what they are. But only developer purchased weeks are eligible for these, correct? I do own Hyatt weeks, possibly could exchange with one of these, but then I would be in a MV as well. I will just keep looking. TUG advice has served us well, I won't get in a hurry. There's always another TS week for sale.

 

[Dean]

I saw that eBay auction, it was MV 2019 use. The best OV I have seen was about a year ago, $4850 for a 2/2 OV and that included closing/transfer. I am not currently a MVC owner, so don't have Trust or DC points, I am not really sure what they are. But only developer purchased weeks are eligible for these, correct? I do own Hyatt weeks, possibly could exchange with one of these, but then I would be in a MV as well. I will just keep looking. TUG advice has served us well, I won't get in a hurry. There's always another TS week for sale.

If you're not an owner currently, Destination points is not likely to be helpful. But you could buy trust points resale and use those and get the same benefits in usage. You should understand these options before you buy anything. If you plan to go routinely and only to that property, that may be your best option but if there's any times when you want go there, I'd seriously consider other options, esp if you can make do with smaller villas.

 

[scpoidog]

Keep in mind that depending on the deal you get, if you go after an EOY odd, you'll pay maint fees of $1100 for 2018 (no use) and then another $1100 (assuming no MF increase) for 2019 for a total of $2200 for your trip in 2019.

If you buy an EOY even, you will pay $1100 for 2018 and then get use of that in 2018, cutting your "trip" cost in half, as the seller would have paid for 2017 MF, essentially subsidizing your vacation.

This is why you might have to pay less for an EOY odd right now and assumes that the MF have been paid though 2017.

 

[dagger1]

Keep in mind that depending on the deal you get, if you go after an EOY odd, you'll pay maint fees of $1100 for 2018 (no use) and then another $1100 (assuming no MF increase) for 2019 for a total of $2200 for your trip in 2019.

If you buy an EOY even, you will pay $1100 for 2018 and then get use of that in 2018, cutting your "trip" cost in half, as the seller would have paid for 2017 MF, essentially subsidizing your vacation.

This is why you might have to pay less for an EOY odd right now and assumes that the MF have been paid though 2017.

I understand from prior posts that for 2018 usage the MF's are paid in Jan 2018 and Jan 2019; that the MF paid in Jan 2017 was for the 2016 usage. But your point is valid, for EOYE 2018 usage I would only pay 1 MF (Jan 2018) and then would have a week. For EOYO 2019 usage, I would pay 2 MF's before getting the week.

 

[scpoidog]

I think you "prepay" the MF for EOY as Marriott wouldn't allow you use your week then pay later. But that was only for the person who bought. At this point it's whatever you have to pay to get your week usage. Good luck.

 

[Dean]

I think you "prepay" the MF for EOY as Marriott wouldn't allow you use your week then pay later. But that was only for the person who bought. At this point it's whatever you have to pay to get your week usage. Good luck.

My understanding was they were paid in in the year and the next year. The auction I mentioned above was set up that way and when I bought my EOY Ko Olina week it was as well. I'm not sure the official Marriott stance but that's the position I'd take buying in, esp since you might not get the week you wanted the first usage year anyway.

 

[BocaBoy]

I think you "prepay" the MF for EOY as Marriott wouldn't allow you use your week then pay later. But that was only for the person who bought. At this point it's whatever you have to pay to get your week usage. Good luck.

WRONG! (And I have a lot of personal experience with this issue, including buying Marriott EOY weeks from the developer.)

 

[StevenTing]

In terms of MF's, I don't think it really matters as any difference is reflected in the purchase price. I think it's pointless to think about what year MF's apply to what a specific usage. I bought an EOY Odd back in 2013 with first usage in 2015. I paid MF's in 2014 and 2015. I used my week in 2017 and paid MF's in 2016 and 2017. I had 2 weeks of usages and I paid 2 weeks worth of MF's.

While I know we all like to purchase value and save as much as we can, I think this is more of an academic exercise and doesn't really matter in the long run.

 

[Quadmaniac]

In terms of MF's, I don't think it really matters as any difference is reflected in the purchase price. I think it's pointless to think about what year MF's apply to what a specific usage. I bought an EOY Odd back in 2013 with first usage in 2015. I paid MF's in 2014 and 2015. I used my week in 2017 and paid MF's in 2016 and 2017. I had 2 weeks of usages and I paid 2 weeks worth of MF's.

While I know we all like to purchase value and save as much as we can, I think this is more of an academic exercise and doesn't really matter in the long run.

Yep, exactly. We're really splitting hairs here.

 

[BocaBoy]

Yep, exactly. We're really splitting hairs here.

Until you go and try to sell it and the buyer knows the rules. And often Marriott's buy back is the best price and they will ALWAYS do it buy the book. So I disagree strongly.

 

[dagger1]

In terms of MF's, I don't think it really matters as any difference is reflected in the purchase price. I think it's pointless to think about what year MF's apply to what a specific usage. I bought an EOY Odd back in 2013 with first usage in 2015. I paid MF's in 2014 and 2015. I used my week in 2017 and paid MF's in 2016 and 2017. I had 2 weeks of usages and I paid 2 weeks worth of MF's.

While I know we all like to purchase value and save as much as we can, I think this is more of an academic exercise and doesn't really matter in the long run.

I agree, Steven. All the MF's are reflected in the final sales price. If I have to pay MF's until first use year in 2020, I will try to negotiate a lower price to compensate.

 

[Quadmaniac]

Until you go and try to sell it and the buyer knows the rules. And often Marriott's buy back is the best price and they will ALWAYS do it buy the book. So I disagree strongly.

Over the lifetime of ownership it does not amount to that much. Yes it does make a difference when selling, but really, you are buying it to use and create memories. That does not mean that I will not look for the best price, but sometimes for a few bucks, I say meh. It is still way better than what the original purchaser paid, so I try not to lose sleep over it.

 

[klpca]

See this thread re: EOY usage. http://tugbbs.com/forums/index.php?threads/marriott-eoy-billing-question.240912/ , especially post #10 from Saintsfanfl.