MOC vs WKOVR: Resale Value

[echino]

I am comparing two timeshares:

1. Marriott Maui Ocean Club, old towers, 1br Ocean View
2. Westin Kaanapali Ocean Resort Villas, south, 1br, Ocean View

Maintenance fees are about the same, ~$2,200, which is disproportionally high compared to a 2br at both properties.

But I am seeing resale prices for MOC much higher than for WKORV. About $8,000 - $10,000 vs. about $5,000 - $7,000. Is there a particular reason MOC is worth more on the resale market, or is it just a fluke? I would think WKORV would be worth more, since it's a newer resort with a full kitchen etc. Thoughts?

 

[TXTortoise]

I can’t speak to the price difference, other than demand and ROFR by Marriott keeping the price up, but the MF difference between a 1BR and 2BR over the long haul makes the 2BR a better value. Add the ability to rent or extend your stay to two weeks with the studio is icing on the cake.

 

[needvaca]

my guess is the location. MOC is right in the heart of Kaanapali Beach, between the Hyatt and Westin hotels. It's a short walk to Whaler's Village. WKORV is farther north in a more remote area, past Black Rock- not an easy walk to Whaler's Village.

plus Vistana has built more with the addition of the properties WKORV North and Nanea. More supply sometimes tends to drive prices down

 

[Shaun]

I am comparing two timeshares:

1. Marriott Maui Ocean Club, old towers, 1br Ocean View
2. Westin Kaanapali Ocean Resort Villas, south, 1br, Ocean View

Maintenance fees are about the same, ~$2,200, which is disproportionally high compared to a 2br at both properties.

But I am seeing resale prices for MOC much higher than for WKORV. About $8,000 - $10,000 vs. about $5,000 - $7,000. Is there a particular reason MOC is worth more on the resale market, or is it just a fluke? I would think WKORV would be worth more, since it's a newer resort with a full kitchen etc. Thoughts?

The 1BR OV EOY at MOC is going for about 3k, theres a couple for sale, even year and odd year on redweek that are available for 3k each (negotiable, I talked to the agent about possibly paying closing costs) plus I'm in contract to purchase (2) 1 BR units at 3k each so I would think you could get an annual MOC OV for 5k or 6k. Or, buy the EOY odd and even year on Redweek?

 

[carpie99]

Not that you should ever use a Hawaii unit as a StarOption trader but for maximum flexibility I would want the Mandatory Vistana property for the additional benefit within Vistana.

 

[controller1]

I am comparing two timeshares:

1. Marriott Maui Ocean Club, old towers, 1br Ocean View
2. Westin Kaanapali Ocean Resort Villas, south, 1br, Ocean View

Maintenance fees are about the same, ~$2,200, which is disproportionally high compared to a 2br at both properties.

But I am seeing resale prices for MOC much higher than for WKORV. About $8,000 - $10,000 vs. about $5,000 - $7,000. Is there a particular reason MOC is worth more on the resale market, or is it just a fluke? I would think WKORV would be worth more, since it's a newer resort with a full kitchen etc. Thoughts?

Seeing resale prices is one thing but are we able to ascertain those translate into resale purchases?

 

[CalGalTraveler]

Seeing resale prices is one thing but are we able to ascertain those translate into resale purchases?

Good point. ROFR.net may provide clues, but suspect that MVC has been more aggressive in buyback and Vistana less so because their budget and attention have been foused on selling Nanea. It's not uncommon for resale values and ROFR to temporarily dip when new properties are being sold af a location.

 

[dagger1]

I am comparing two timeshares:

1. Marriott Maui Ocean Club, old towers, 1br Ocean View
2. Westin Kaanapali Ocean Resort Villas, south, 1br, Ocean View

Maintenance fees are about the same, ~$2,200, which is disproportionally high compared to a 2br at both properties.

But I am seeing resale prices for MOC much higher than for WKORV. About $8,000 - $10,000 vs. about $5,000 - $7,000. Is there a particular reason MOC is worth more on the resale market, or is it just a fluke? I would think WKORV would be worth more, since it's a newer resort with a full kitchen etc. Thoughts?

It could just be the market at work: more people wanting to buy MOC or more people selling WKORV. From what I have read many people prefer the MOC location due to proximity to Whalers Village. I have also heard the units are nicer at WKORV with full kitchens and W/D. We will be staying at WKORV in September and plan on visiting both. It will be interesting to compare the two resorts.

 

[capjak]

They are definitely comparable/similar in "niceness"

If purchasing a 2 bedroom for use WKORV and North are better than MOC, as at the Westin the studios have a washer and dryer as well as full size refrigerator and a 2 burner stove.

The location is really personal preference I have stayed at both and it is different. WKORV is more away from the hubub, if you want all the people and stores etc you have to either walk 25 minutes on the ocean path or take the free shuttle from WKORV. At the marriott it is a short walk to whalers villiage, the crowds are kind of like being at Disney World if that is what you like vs the Westin is still busy but not like the hotel strip down by the Marriott.

And the big plus for the Westin is they have nice cushions on the chairs to lay out at the pool (a little more upscale). The downside is the beach is tiny at the Westin vs the Marriott.

 

[DeniseM]

I would not buy a Westin 1 Bdm, period. The disproportionate MF is a deal killer. For just a little higher MF you can have a 2 bdm.

Westin beach vs Marriott beach - this changes with the whims of nature.

 

[echino]

I would not buy a Westin 1 Bdm, period. The disproportionate MF is a deal killer. For just a little higher MF you can have a 2 bdm.

MOC old towers has absolutely the same issue with 1br vs 2br MFs being almost the same. Yet, MOC 1br Ocean View are very desirable and sell for $8,000 - $10,000. Mine was ROFRed at $8,300. I guess it's just supply and demand, exacerbated by Marriott's active ROFR.

 

[Shaun]

MOC old towers has absolutely the same issue with 1br vs 2br MFs being almost the same. Yet, MOC 1br Ocean View are very desirable and sell for $8,000 - $10,000. Mine was ROFRed at $8,300. I guess it's just supply and demand, exacerbated by Marriott's active ROFR.

I was just at both resorts a couple of months ago and my family's vote was 100% for MOC over WKORV, a 6-0 unanimous vote so that is where I am concentrating on buying units. If MOC wasn't an option then I'd buy Westin for sure but my family enjoyed the Marriott better for these reasons - loved the location of being on Kaanapali Beach and able to walk the Boardwalk up to Whaler's village, black rock, etc. - liked the pool better - liked the activities much, much more. Like I mentioned, I'd suggest making offers on those 2 every other year ones on Redweek (odd & even) and then it'll give you annual usage. They are listed for 3k but ask them to pay closing. I shouldn't be giving you this advice because if my current purchase doesn't pass ROFR then I might make offers on those . You might have a good shot at it because Marriott is letting those every other year ones go for 3k or so. Good luck!

Edit or addition: One thing that I would add though is the Westin felt a little more upgraded than Marriott and it did have the full kitchen & washer/dryer compared to the original Marriott building not having a full kitchen or washer/dryer. That was the only thing that I like more about the Westin but it wasn't enough for us to want to buy Westin over Marriott for the reasons above.

 

[capjak]

It should also be noted that the Marriott new towers do have kitchens but only on the 1 bedroom side and not the studio. The Westin has a kitchen on both the studio (2 bruner-electric cook top) and 1 bedroom (4 burner-electric cook top) as well as washer and dryer in both 1 bedroom and studio which makes the Westins very desireable when locking them off and spending 2 weeks on the island.

 

[dagger1]

I was just at both resorts a couple of months ago and my family's vote was 100% for MOC over WKORV, a 6-0 unanimous vote so that is where I am concentrating on buying units. If MOC wasn't an option then I'd buy Westin for sure but my family enjoyed the Marriott better for these reasons - loved the location of being on Kaanapali Beach and able to walk the Boardwalk up to Whaler's village, black rock, etc. - liked the pool better - liked the activities much, much more. Like I mentioned, I'd suggest making offers on those 2 every other year ones on Redweek (odd & even) and then it'll give you annual usage. They are listed for 3k but ask them to pay closing. I shouldn't be giving you this advice because if my current purchase doesn't pass ROFR then I might make offers on those . You might have a good shot at it because Marriott is letting those every other year ones go for 3k or so. Good luck!

Edit or addition: One thing that I would add though is the Westin felt a little more upgraded than Marriott and it did have the full kitchen & washer/dryer compared to the original Marriott building not having a full kitchen or washer/dryer. That was the only thing that I like more about the Westin but it wasn't enough for us to want to buy Westin over Marriott for the reasons above.

Were you able to sleep 6 comfortably in a 1BR at MOC?

 

[JIMinNC]

Were you able to sleep 6 comfortably in a 1BR at MOC?

I guess it depends on how you define "comfortably" and the age distribution of your six people. Personally, I wouldn't consider sleeping more than four adults "comfortable", even in a TWO bedroom, despite the fact that those units, on paper, accommodate eight. If you are talking about two adults and three or more young children, that's a different story. The reason is, in the MOC original tower two bedroom units, both bedrooms have king sized beds. There is also a sofa bed in the living area and another sofa bed in the lock-off bedroom. In my opinion, that limits even the two bedroom units to no more than four adults because I personally wouldn't want to have more than two adults sharing a bedroom with a king+sofa bed. We've also never liked using the family room sofa bed for sleeping. The family room is there to use as a family room, not as a bedroom, in my opinion. When we were in Maui a few months ago with our two 20+ year old children, they used the lock-off bedroom (studio), but no way I would have tried to put a third adult in there. In the future when our kids have significant-others they travel with, if they come with us to Maui, we've concluded we'll need to supplement our two bedroom with a studio (either a cash rental or using DC points), so all three couples can have our own bedrooms. Anything less than that I wouldn't consider comfortable.

 

[Dean]

Were you able to sleep 6 comfortably in a 1BR at MOC?

Did they say there were in a 1 BR? I know the OP question was about the 2. If so did they tell Westin they had 6 people for a 1 BR?

 

[dagger1]

Did they say there were in a 1 BR? I know the OP question was about the 2. If so did they tell Westin they had 6 people for a 1 BR?

He mentioned that there were 2 EOY MOC’s for sale for $3K on Redweek, I just assumed he was referring to 1BR units.

 

[Dean]

He mentioned that there were 2 EOY MOC’s for sale for $3K on Redweek, I just assumed he was referring to 1BR units.

That was my first thought as well so I read through a couple of times before I mentioned it. This is one of my pet peeve in life, dishonest people that sneak guests in often over the occupancy limit of a unit.

 

[CalGalTraveler]

Each has pluses and minuses. The preference will depend on your situation. Activities dont matter to us but there would have been a time when our kids were young that it would have mattered.

We like the ability to lock off our WKORVN and have two weeks in complete units with washer/dryer and kitchen in each unit. I loved having 2 washing machines in 2 bdrm to run concurrent loads to not miss beach time. I have heard that ovens will be added to the next round of reno too.

Lack of lanai in HI is a deal breaker for us WKORV south has only juliette balcony in non- OF units which may affect value. I believe MOC and towers have full studio balconies. WkORVN has balcony on both sides for all units which makes lockoff ideal. If you don't plan to lock off to extend to a second week then extra balcony does not matter. Can't lock off Nanea.

I like the quieter boardwalk north of black rock because I run in the morning and it is difficult to avoid running into people on the crowded south boardwalk gathering for activities and walking. Also south has hotel crowds which North does not have.

What is the attraction to Whalers? There is a Dukes at Honua Kai and restaurants at Westins. You can also take a short walk north of Westin past Honua Kai to grocery, food trucks, local takeout and potentially avoid renting a car. Looking for a good evening ice cream option on north side tho.The Westin shuttle runs every 15 to 20 min to whalers if needed. Also to Lahaina

We also like the idea of locking off and using Staroptions to trade into shorter stays elsewhere or back into WKORV or Nanea with no skim.

 

[MOXJO7282]

I think MOC's close location to the Whaler's Village and Black Rock plus being 5 minutes to Front St makes the MOC the preferred location and hence higher resale value in spite of the obviously nicer amenities in the Westin units. That doesn't make the Westin any less amazing.

 

[dagger1]

There has to be some reason the Westin’s are cheaper... Are they really that much cheaper?

 

[Dean]

There has to be some reason the Westin’s are cheaper... Are they really that much cheaper?

I can't speak to specifics but in general market forces work loosely with timeshares. It may be as simple as the name and it's recognition. I'm sure there are reasons but it might not be something we can quantify.

 

[dagger1]

I can't speak to specifics but in general market forces work loosely with timeshares. It may be as simple as the name and it's recognition. I'm sure there are reasons but it might not be something we can quantify.

Yes, strange... To me the Westin name carries higher value than Marriott, but maybe not on Maui...

 

[Dean]

Yes, strange... To me the Westin name carries higher value than Marriott, but maybe not on Maui...

Or more likely for the masses. I think Marriott has better name recognition. Just look at DVC and its value. There are other factors, Marriott does more/better advertising it seems overall and the # and location of resorts may play a role.

 

[WahooWah]

MOC old towers has absolutely the same issue with 1br vs 2br MFs being almost the same. Yet, MOC 1br Ocean View are very desirable and sell for $8,000 - $10,000. Mine was ROFRed at $8,300. I guess it's just supply and demand, exacerbated by Marriott's active ROFR.

That's exactly right. Needvaca's response was also spot on.