HGVC Maui -- post pics here

[Luanne]

Sales rep told us that Maui just got approval to change from leasehold to fee simple (whatever that means).

FEE SIMPLE: Fee simple ownership is probably the most familiar form of ownership to buyers of residential real estate. Depending on where you are from, you may not know of any other way to own real estate. Fee simple is sometimes called fee simple absolute because it is the most complete form of ownership. A fee simple buyer is given title (ownership) of the property, which includes the land and any improvements to the land in perpetuity. Aside from a few exceptions, no one can legally take that real estate from an owner with fee simple title. The fee simple owner has the right to possess, use the land and dispose of the land as he wishes--sell it, give it away, trade it for other things, lease it to others, or pass it to others upon death.

LEASEHOLD: A leasehold interest is created when a fee simple land-owner (Lessor) enters into an agreement or contract called a ground lease with a person or entity (Lessee). A Lessee gives compensation to the Lessor for the rights of use and enjoyment of the land much as one buys fee simple rights; however, the leasehold interest differs from the fee simple interest in several important respects. First, the buyer of leasehold real estate does not own the land; they only have a right to use the land for a pre-determined amount of time. Second, if leasehold real estate is transfered to a new owner, use of the land is limited to the remaining years covered by the original lease. At the end of the pre-determined period, the land reverts back to the Lessor, and is called reversion. Depending on the provisions of any surrender clause in the lease, the buildings and other improvements on the land may also revert to the lessor. Finally, the use, maintenance, and alteration of the leased premises are subject to any restrictions contained in the lease.
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It was my understanding that most, if not all, Hawaii properties were Leasehold. I know that's what Maui Hill is.

 

[linsj]

However, he said the next priority project after GI is converting the Ocean Tower in Waikaloa resort.

Less than two years ago, Maui was the priority after GI with the hotel conversion #3.

 

[SmithOp]

Less than two years ago, Maui was the priority after GI with the hotel conversion #3.

In the mean time *this* HGVC owner has been to Maui twice, revenue HGVC will never see.


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[elleny76]

Question : HGVC _Maui Property will be right on the Beach? (ocean front)

In the mean time *this* HGVC owner has been to Maui twice, revenue HGVC will never see.


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[SmithOp]

Question : HGVC _Maui Property will be right on the Beach? (ocean front)

Not exactly, the units will be across the road from the beach.


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[buzglyd]

The only answers I get about Maui from the higher ups is that it is going "SLOW."

Maui does not make it easy for new timeshare development.

 

[buzglyd]

Just did a drive by today. Nothing new to report. Zero activity. Man, that is one windy beach and not very appealing.

 

[jacksparrow1981]

I was told by a higher up at HGVC in Orlando that they are having a lot of problems getting the design approved by the local building department.

The main road block is that HGVC wants to build higher than is allowed which requires a variance from the county and that is really slowing things down (again according to what I was told)

 

[1Kflyerguy]

Just did a drive by today. Nothing new to report. Zero activity. Man, that is one windy beach and not very appealing.

That is disappointing but not entirely unexpected on both fronts.

I have been to Kihei, but have not spent any time on the beach there. Everyone I know seems to mention how windy it is there....

 

[PassionForTravel]

The wind is mostly in the afternoon. First time I was in south Maui I didn't understand this and got sand blasted a number of times.

Now our standard routine is to get up relatively early, go to the beach, head back to the condo for lunch and spend the afternoon reading on the Lanai.

When I stayed at Maui Lu many years ago as I recall the beach was okay but not as nice as the beaches further south in Kihei. The big advantage of south Maui over West Maui is that it's a lot closer to the airport/Costco, etc.

We will continue to use our Worldmark points for Kihei rather than HGVC and use HGVC for Oahu and Hawaii island. But it will be nice for HGVC only owners to have an option.

Ian

 

[GregT]

The wind is mostly in the afternoon. First time I was in south Maui I didn't understand this and got sand blasted a number of times.

Now our standard routine is to get up relatively early, go to the beach, head back to the condo for lunch and spend the afternoon reading on the Lanai.

When I stayed at Maui Lu many years ago as I recall the beach was okay but not as nice as the beaches further south in Kihei. The big advantage of south Maui over West Maui is that it's a lot closer to the airport/Costco, etc.

We will continue to use our Worldmark points for Kihei rather than HGVC and use HGVC for Oahu and Hawaii island. But it will be nice for HGVC only owners to have an option.

Ian

This has been our experience as well. Once we figured out the afternoon winds, we would start packing up around 1pm -- before the winds picked up. Once they start blowing, packing is not fun.

This will still be a great option for HGVC owners and I hope the height issue gets resolved.

Best,

Greg

 

[hurnik]

Sounds similar to Waikaloa. If you want to do water stuff in the ocean, the winds pick up by 11-12 noon and then you're pretty much done for the day.

We enjoyed Kona area much more (but no Hilton there).

Too bad about Maui, but doesn't surprise me. The Hawaiian government is not very friendly for building new developments, etc.

Looks like I'll have to look into selling one of my HGVC and picking up a Mariott or worldmark for II stuff. Hilton doesn't have anything in Maui or Caribbean and RCI choices are slim pickings, IMO compared to Marriott/II in those areas.

 

[SmithOp]

Looks like I'll have to look into selling one of my HGVC and picking up a Mariott or worldmark for II stuff. Hilton doesn't have anything in Maui or Caribbean and RCI choices are slim pickings, IMO compared to Marriott/II in those areas.

Thats what I did, been to Maui twice now while waiting for HGVC.



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[simon.fisher.2]

I am longing for the day the Hilton Waikoloa Village has a HGVC property. I love that resort and would love to have timeshare accommodations. I know that Kohala Suites and Kingsland have access and you can buy it with Bay Club, but it isn't quite the same.

I saw a developer presentation at Kingsland this summer. Don't worry we didn't purchase - we bought resale following the presentation at Kohala Suites.

He told me they will be converting the ocean tower. (I understand that is not new news) I also mentioned that I wished the resort had an actual beach... The lagoon is cool and all, but I want to experience the waves.

We will see if that happens...

To further the point that the lagoon tower is the ideal tower on property, I would hope that they add additional features to the ocean tower side with the HGVC renovation. My wife and I will not buy developer points, but I would jump on the opportunity to purchase resale ocean tower points. I would list Kohala suites immediately.

 

[pedro47]

When will this project be completed ?

 

[GregT]

I am longing for the day the Hilton Waikoloa Village has a HGVC property. I love that resort and would love to have timeshare accommodations. I know that Kohala Suites and Kingsland have access and you can buy it with Bay Club, but it isn't quite the same.

I saw a developer presentation at Kingsland this summer. Don't worry we didn't purchase - we bought resale following the presentation at Kohala Suites.

He told me they will be converting the ocean tower. (I understand that is not new news) I also mentioned that I wished the resort had an actual beach... The lagoon is cool and all, but I want to experience the waves.

We will see if that happens...

To further the point that the lagoon tower is the ideal tower on property, I would hope that they add additional features to the ocean tower side with the HGVC renovation. My wife and I will not buy developer points, but I would jump on the opportunity to purchase resale ocean tower points. I would list Kohala suites immediately.

I also look forward to when Ocean Tower is converted - I understand it will be all Studio and 1BR units though.

When we were there in 2012, they were renovating the Lagoon Tower. I do not know how that would influence any possible conversion but we will see.

I also look forward to any progress on Maui - bummer to see slow progress.

Best,

Greg

 

[dvc_john]

I was at Bay Club a few weeks ago, and visited the hotel several times.
I don't know if this means anything or is accurate or not, but:

It was confirmed that Ocean Tower would be converted to HGVC and that the loop closest to the ocean would be premier, the center loop would be plus, and the last loop would be standard.

While the Ocean Tower seemed to be filled with hotel guests, they were in the process of boarding up one or two of the rooms on the top floor of the center loop. Don't know if it was the start of conversion, or perhaps converting a model room, or something unrelated.

 

[CiCi]

All,

Over on the Starwood board, we have a sticky where people are posting pictures of the new Starwood property on Maui that is under construction.

Perhaps we can do the same here on the HGVC board.

These are June 2015 pictures of the beach-side of the property, I didn't get over to the other side of the road. The beach picture looking north to W. Maui mountain is the most interesting...

Best,

Greg

Was in Maui last week...here are a few pics of the “proposed” Maui site, which is across a crazy, busy street from the ocean. Still no activity that we could see. It looked like a sad, abandoned piece of property.

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[alwysonvac]

It was reported last year that the project has stopped.

I would be surprised if they have actually started the project. In last quarters earnings call, HGVC stated Maui had stalled and they had removed the project from all financial projections. In the most recent earning call, last week, they never mentioned Maui. I think they would have been promoting the Maui at if it was indeed moving forward. Instead they spoke about breaking ground on the 3rd location in Myrtle beach and the joint venture to buy Elara.

Of course they blamed approvals. I don't think that it is. I think it has more to do with funding. This was a fee for service resort, meaning someone else was coming up with the largest chunk of capital. I think they pulled out, there was some discussion that this is on the last Investor Call in May. See the following...

Reported in this link ...
http://tugbbs.com/forums/index.php?threads/investor-presentation-on-hgv.255239/#post-2000001

Here is the transcript where CEO of HGVC speaks of Maui, (page 8 -10)
http://investors.hgv.com/~/media/Files/H/Hilton-Grand-IR/documents/hgv-1q17-transcript.pdf

Info on Fee for Service (description at bottom of post) ....
http://tugbbs.com/forums/index.php?...t-affiliated-information.254931/#post-1996760

Looks like they pulled it out of their sales projections, but still have a sales agreement and only stated "construction is delayed":

Mark Wang
No, I think everything that’s in our pipeline has distribution behind it. And Maui, Maui is the one project that we pulled out and the construction has been delayed on that property. And since we don’t have clear visibility of when we’re going to be able to start sales, we just thought it would be better to pull that out at this point to make sure that the visibility that we’re providing in our pipeline is clean as possible.
Jim Mikolaichik
I would add that we still have sales and marketing agreement there. We still think that project has some viability

 

[alwysonvac]

Bumping since the property is now back on track.

For those headed to Maui this year, please post the latest pic

 

[frank808]

Just took these pics 5 minutes ago. Lots of grading going on.

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