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Free Hanalei Bay Resort

lisae

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Free Hanalei Bay Resort..just pay the closing costs and transfer fee if applicable

This is a 1 bed unit

Seller is current on maint fees up to 2013.
 

ljkcpa

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Every year?? Maintenance fee costs??
Which building is unit in??
Thank you.
 

Carol C

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Wow, if I lived on the West Coast I'd jump on this deal. What a beautiful tropical paradise that resort is! Aloha!
 

wilma

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Red Wolf Lakeside Lodge, Hanalei Bay Resort, Sweetbriar Lake tahoe, Marriott Canyon Villas, Hyatt High Sierra, Point at Poipu

Rent_Share

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Hanalei Bay just sent out a new assessment ($800) and increased the maintenance fees. Owners are up in arms so will probably see a lot of "free weeks". Who pays the assessment, the seller?

http://hanaleibayresort.com/en/Owners%20Corner/~/media/files/hbr-owners/BOD%20Msg%20Renovation%20and%20Budget%20Update%20Dec%202013-2.ashx

Tug at it's best, a potential taker could easily be blindsided,

I do believe the OP is a real estate agent, if not broker, and have found here posts to be ambiguous at best, always lacking in details
 
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PamMo

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Tug at it's best, a potential taker could easily be blindsided,

I do believe the OP is a real estate agent, if not broker, and have found here posts to be ambiguous at best, always lacking in details

I've never bought/sold from Lisae, but she's asked for clarification on clients' (both sellers and buyers) timeshares in several different TUG forums. No broker can possibly know everything about every resort. OWNERS can be appallingly ignorant about their timeshares - and some do not fully disclose the costs. I doubt that Lisae knew about the SA.

I think it's great that Wilma caught/posted the recently announced special assessment for Hanalei Bay Resort. It's an excellent reminder that if you're buying a timeshare, you need to do the research to avoid unpleasant surprises!
 

Rent_Share

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No broker can possibly know everything about every resort. OWNERS can be appallingly ignorant about their timeshares - and some do not fully disclose the costs. I doubt that Lisae knew about the SA.

Not withstanding the Special Assesement there are a few obvious questions missing from her posting

Free Hanalei Bay Resort
Free Hanalei Bay Resort. doh Where is it, first thing that came to my mind was a hotel that is/was in Hotel Circle San Diego

.just pay the closing costs and transfer fee if applicable How much, ?

This is a 1 bed unit What Season ?

Seller is current on maint fees up to 2013. How much was 2013, what am I signing up for for 2014 (approximately)?
 

Carol C

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It's an excellent reminder that if you're buying a timeshare, you need to do the research to avoid unpleasant surprises!

You can do your research but still you can be lied to. I took a freebie from a TUGger and called the resort, spoke to mgr to ask if there were any maint fee hikes or special assessments in the works and was told "no". A month or two after I closed I got a mailing saying the board had approved a fee of $25 per quarter to build up their reserves. To me that's a $100 per year maint fee hike disguised in sheep's clothing. I wrote the mgmt and told them I'd been deceived by them when I was doing my due diligence before closing. I told them I wished to deedback my week to them, but nobody there has replied to me. Now I keep getting billed for $25 and I think it's up to $50. I guess they'll report me to credit bureaus as a deadbeat...but I can't find names of real people in power there like board members that I can write to. I think I'll have to research what entities if any oversee timeshare operations in the state of Texas. Caveat emptor indeed!

P.S. I once sold a timeshare, a Marriott, to a TUGger and a few months later a special assessment was announced. I offered to pay half of hers, as a good faith gesture, even though I still owned a week there and had to pay my own special assessment. So, I do think the OP in this thread should offer to pay at least half of Hanalei Bay's special assessment and also disclose what the maint fee increase will be. Otherwise this freebie might end up too expensive for some folks and become a burden.
 

drguy

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Free Hanalei Bay Resort..just pay the closing costs and transfer fee if applicable

This is a 1 bed unit

Seller is current on maint fees up to 2013.

Are 2013 maintenance fees still due? They are paid through 2012 according to the post. What are the fees?
I am interested if the questions are answered favorably.
Thanks.
 

gvic

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jimp1072

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Hanalei Bay Resort - On the Road to Recovery

LARGE "Special Assessments" are the result of an "incompetent" Board of Directors and a Management Company that doesn't watch costs.

First let me say that I am NOT an owner at HBR. I have watched this resort for the last 15 years thinking that at some time I may want to become an owner.

Yes, the BOD had been incompetent for a long time. They chose to enter into a series of contracts with multiple management companies that were not just incompetent but also financially unstable, greedy, and self-serving.

The new BOD is doing a much better job and the current management company is experienced and doing a much better job in turning this resort around. The VOA (timeshare association) now controls the rentals and sales of foreclosed intervals and receives the benefits of same.

The financial mess that has accumulated for more than a decade has left a deep hole for owners leaving the replacement reserves well below acceptable levels. MF's for 2 BR units have escalated rapidly over the last few years and are currently $300 per interval higher than comparable independently run resorts on the island. The BOD had no choice but to levy a series of Special Assessments ($800/pop) and dramatically increase MF's to help dig out of the financial hole.

The BOD also entered the association into a 10 year, $2.5 million loan to fund resort maintenance and refurbishing. That loan will be repaid by owners over the next decade when it should have been funded by MF's paid by owners over the previous decade.

The current BOD is making excellent progress in returning this resort to a premium property. They will finish a complete refurbishment of all units by the end of 2014. I have seen photos and the completed units are very well done with high quality furnishings and materials. In addition, they are addressing issues with deferred maintenance throughout the resort. New roofs are being installed and a new resort wide solar system will come online in the near future. The lobby, restaurant, and cocktail lounge are being rebuilt after a 2012 fire that destroyed all three. The construction should be completed by Q3 2014.

This is a story of a beautiful resort in an absolutely gorgeous location that was nearly destroyed by poor management combined with the worst recession the US has experienced since the Great Depression. They now appear to be back on track to financial stability and I wish them the best.
 
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