Star option for Hawaii

[Armani987]

Hello all,

I am a new member that just saved myself $30000 by finding out about this website and rescinded the deal on Nanea property just last week.

I am looking into the resale market and was interested in purchasing a mandatory resort for the Star option usage in Hawaii. I visit Hawaii every year and was just at WPORV and fell in love with the quality of the resort. I am thinking of buying SVV with at least 81000 points to get a 1 bdrm in Hawaii.

My question is, will it be difficult for me to get something in Hawaii around end of August to beginning of September? I normally go around this time of the year and normally book my trip only about 3~4 months ahead. I don't mind a studio as well as any view. If I have no chance, I really don't have any business buying a Starwood timeshare as my sole purpose is to go to Hawaii.

Thank you in advance.

 

[DeniseM]

As long as you reserve RIGHT at the 8 mo. mark, when the Staroption reservation window opens, you will have no problem at all, and with 81K Staroptions you will be able to get a 1 bdm.

WPORV is much easier to get than the Maui resorts, and that is the beginning of the off-season.

 

[Armani987]

Thank you for your input Denise.

For me, I really don't mind any of the three properties. If kauai is open, I can go there. If Maui is open, I would love that as well. When I visited two weeks ago, WPORV was pretty empty and I loved it.

So you think booking 3~4 month using Star Option is not realistic and have to book when the reservation opens at 8 month?

 

[DeniseM]

Thank you for your input Denise.

For me, I really don't mind any of the three properties. If kauai is open, I can go there. If Maui is open, I would love that as well. When I visited two weeks ago, WPORV was pretty empty and I loved it.

So you think booking 3~4 month using Star Option is not realistic and have to book when the reservation opens at 8 month?

Yes - at 3-4 mos. it's likely to be booked solid. However, there is no down-side to booking at 8 mos. If you have to move your reservation later, there is no fee or penalty.

 

[okwiater]

Although Denise's advice is correct, keep in mind that buying at one property in order to regularly visit another is something that can change at any time due to any number of factors, e.g. improvements in the economy, excess inventory at resorts undergoing expansion or development, modifications to the SVN program such as the number of StarOptions needed to trade into Hawaii, new programs affecting inventory such as a possible Westin Flex, etc.

These are all unknowns, and may or may not have any effect on being able to trade into Hawaii. The nice thing about SVV is acquisition cost is near zero so if material changes occur you haven't lost too much. But, if you know that you absolutely want to visit Hawaii every year, there's nothing wrong with spending a bit more to buy there and guarantee your usage rights. That way, no matter what happens, you are always able to travel where you want to go.

For instance, if you were prepared to drop $30K anyway, for similar monies you could acquire a resale Ocean View (or for a bit more Ocean Front) lockoff at WKORV. Even though you only want 1 bedroom, you could reserve half the lockoff for a popular week and rent it to recoup a large part of your MFs. Then stay in the other half during the week you want to go. (You do not need to book both sides during the same week).

Not necessarily recommending that you do that, but if you know you want to visit Hawaii every year and you can afford the cash outlay, then it's something you should at least consider.

 

[SMHarman]

^ a sensible option to consider.

If you don't want to deal with the rental yourself. People on here will help you rent HI.

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[DeniseM]

I disagree with buying in Hawaii:

The maintenance fee and taxes are ridiculous, and rising.

I would start out with a cheap/free mandatory resale with Staroptions, and see how that works out for your first. If eventually it stops working for you - you can give it away.

I do not think the WPORV will EVER be as difficult to get into as Maui - Kauai just does not have the demand that Maui does, and people prefer to be on the ocean, on Maui.

 

[Armani987]

Great advices!

I may have to think further to see what fits me the best.

I may consider SVV EOY to hedge the risk of not being able to use it in Hawaii every year and instead, use it in Rancho Mirage and or Kierland.

Thank you

 

[okwiater]

I disagree with buying in Hawaii:

The maintenance fee and taxes are ridiculous, and rising.

Not saying you're wrong, and I would definitely advise against buying any Resort or Island view deeds in Hawaii. However, the "reasonableness" of maintenance fees, in my mind, is directly correlated to how much a given unit will rent for.

For instance, I have a 3-bedroom WSJ unit with MFs of $3,100 per year, but I have rented it for more than $6,000. Even though the MFs are much more than Orlando, I could not rent any Orlando unit for double the MF, and in most cases it would probably rent for under the MF.

That's the crux of my argument for buying in Hawaii if that's where you want to go. The maintenance fees may be double those of Orlando, but if you can rent half of your unit and cover most or all of your fees, PLUS guarantee yourself a beautiful oceanfront view, it CAN make a lot of sense.

Bottom line: acquisition costs and maintenance fees aren't the only important metrics. Think about how you intend to use the unit, your travel priorities, your tolerance for dealing with renters, etc. Then buy what makes sense for you.

 

[Henry M.]

An OV studio at WKORV can rent for about $1,600. A 1BR for about $2,100. Say you use a service and end up paying over 10% of the amount in commissions, you still net $1,440 or $1,890. That greatly reduces your $2,400 or so maintenance fee. I don't know how much the fee is for a 1BR in Orlando, but it is probably not that much less. Buying a 2BR lock-off (not available in Nanea, but the norm ATT WKORV, WKORV-N and WPORV). gives you a lot of flexibility and can adapt as your needs change over time.

True the Hawaii property will cost upwards of $20,000 resale, but you can probably get rid of it for somewhere close to that amount if you decide to sell later. In Orlando you may end up having to give away the property and maybe even pay for all the transfer fees.

I am also a believer in buying where you want to go. The only thing that is guaranteed to you is the unit you buy. Exchanging, or even continued participation in the SVN program can change at any time. Even Starwood could be changed as the management company of the resort you own.

 

[SMHarman]

I disagree with buying in Hawaii:

The maintenance fee and taxes are ridiculous, and rising.

I would start out with a cheap/free mandatory resale with Staroptions, and see how that works out for your first. If eventually it stops working for you - you can give it away.

I do not think the WPORV will EVER be as difficult to get into as Maui - Kauai just does not have the demand that Maui does, and people prefer to be on the ocean, on Maui.

As discussed in another thread the MF is commensurate with a full service apartment of the same size in NY.

I missed the PORV. Definitely an easier SO exchange.

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[okwiater]

As discussed in another thread the MF is commensurate with a full service apartment of the same size in NY.

Does the full service apartment in NY have a year-round temperate climate and view of the Pacific?

 

[LisaRex]

I think SVV is a perfect option if you want to get into WPORV. WKORV is another matter.

 

[czar]

...normally book my trip only about 3~4 months ahead...I really don't have any business buying a Starwood timeshare as my sole purpose is to go to Hawaii.

Thank you in advance.

others with more experience in Hawaii will have better advice, but given your timetable at 3 to 4 months out, might you be better to look at what's left to rent at that point and then make an offer on somebody's rental? That gives you a lot more flexibility and you might be able to score a good deal 3 to 4 months from check in when somebody might be more concerned about getting their unit rented. It would also give you more flexibility with other Maui and HI properties besides Starwood.

I agree with getting your feet wet with a low buy-in option if you're interested in staroptions to trade in SVN, if you're solely looking to go to Hawaii, seems like a better plan might be just to be on the lookout for great rental deals, or hotel packages, given that you said you would be ok with a studio. Just my 2¢ - doesn't seem like it's worth the hassle to get into a deeded property, trading system, maintenance fees, taxes, SVN fees, etc. if you have flexibility, a short BOOKING! timetable, and are willing to go to different places in HI.

 

[LisaRex]

Just my 2¢ - doesn't seem like it's worth the hassle to get into it deeded property, trading system, maintenance fees, taxes, SV and V, etc. if you have flexibility, a short [booking] timetable, and are doesn't seem like it's worth the hassle to get into it deeded property, trading system, maintenance fees, taxes, SVN, etc. if you have flexibility, a short booking timetable, and aren't committed to Starwood, just that level of service.

czar, I want to thank you for making me seriously LOL with your typo.

:ignore::rofl:

 

[czar]

czar, I want to thank you for making me seriously LOL with your typo.

:ignore::rofl:

Oh no! Ahhh, typing on an iPhone.

 

[GrayFal]

czar, I want to thank you for making me seriously LOL with your typo.

:ignore::rofl:

Oh no! Ahhh, typing on an iPhone.

I just snorted my lovely cosmopolitan on my iPad. :hysterical:

 

[SMHarman]

Does the full service apartment in NY have a year-round temperate climate and view of the Pacific?

No but it has central park, museums, art galleries, great restaurant scene, high line, Harlem, theater.
Get a high enough floor you get views of the Hudson and the Atlantic.
Also non stop flights to much of the world.

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[Armani987]

I really appreciate all the inputs.

SVV is always available so I think I will wait one more year before purchasing anything. I'm gonna begin by looking for a rental on either property by an owner who is willing to change their reservation to my specific dates 3 months out. If it seems like a fairly easy thing during my vacation time frame, I will make a purchase for the following year. Unless, something like Platinum 1bdrm EOY at WKV comes around at great price.

 

[DeniseM]

Better to find a rental Ad for the dates that you want, rather than trying to make a new reservation, which probably won't be available at 3 mos. out.

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