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Kaanapali - things to know?

Discussion in 'Hyatt Residence Club' started by Naritai, Feb 5, 2018.

  1. Naritai

    Naritai TUG Member

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    I'm typing this from a room in Kaanapali, and going to a sales presentation - anything I should know? I've spent enough time on this site to know that developer's prices are expensive, but since HKB is new and desirable, I don't see much of a secondary market yet so am seriously considering going developer.
     
  2. NWTRVLRS

    NWTRVLRS TUG Member

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    We went last September, with a trade in from our piñon pointe... it was not a strong sales pitch, other then they are sayi g that inventory is low...

    Enjoy your time in Maui!
     
  3. alwysonvac

    alwysonvac TUG Lifetime Member

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    Here are the resale listings on redweek.com

    3FDF814A-D558-49E1-A8C7-5C558BFC4EA5.png

    92C42008-6BBD-4ED5-BDDC-FE1ED86ED630.png
     
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  4. capjak

    capjak TUG Member

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    I went to the sales presentation today, also. It was pretty low key the rooms are probably the nicest timeshare rooms I have seen with incredible views from the top floors. They have limited to zero 1 bedrooms available in the January/feb fixed weeks. They are starting to sale the last 1/3 that are all 2 bedrooms and will be "floating weeks" as I understand it. We did not get to the incentives they were offering because they did not have weeks 4,5 or 6 that we would be interested in at the 1 bedroom level. The Maui units they said will not be part of the future "points program".
     
  5. capjak

    capjak TUG Member

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    Also they will offer you a package at the end if you say "No" to all the other offers. The package will freeze the price and allow you 100,000 hotel points along with a 7 night stay in a 2 bedroom to be used in the next two years for $5,000 to pricey for me but if you do buy might as well get this benefit as well.
     
  6. Naritai

    Naritai TUG Member

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    Interesting, thanks! My presentation is on Weds so I'm going to do some math on the resales. I'm surprised at the number of resales available on redweek, as there are few here on TUG. The resort is very nice - my wife is in love with the location already!
     
  7. alwysonvac

    alwysonvac TUG Lifetime Member

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  8. capjak

    capjak TUG Member

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    I much prefer the Westin Kaanapali Ocean Resort Villas North Location, however the Hyatt has nicer rooms. The Westin timeshares have 2 bedroom lockoffs much more flexible to stay 2 weeks for 2 adults and perhaps plus 2 children as the studios have full size refrigerators, 2 burner electric stove top and a washer and dryer which is unusual for studios.
     
  9. Naritai

    Naritai TUG Member

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    So, I didn't end up buying from the developer after all. I did take that return-within-2-years deal though, as that's not a bad price for a rental. So I guess I'll talk to them again in a year or two!
     
  10. capjak

    capjak TUG Member

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    What was the incentives if you do not mind sharing pricing/incentives? Also what was the cost of the return, mine was $5,000.
     
  11. Naritai

    Naritai TUG Member

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    My wife hit them with the Redweek screenshot pretty early in the pitch, so the actual pricing discussion was pretty perfunctory. They'd wanted to sell me a floating week (which I actually think fits my life better than the fixed week, assuming I can get weeks that I want), but ultimately they just priced out a fixed week at 69-79k (for low or high floor respectively), with 250k Hyatt points thrown in. The return was $5294 all included with 100k World of Hyatt points. I travel for work and stay in Hyatts a lot so those points are worth a lot to me.
     
  12. TXTortoise

    TXTortoise TUG Member

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    I was there a couple of weeks ago on a 'special' Marriott Owner 60 minute presentation. Gorgeous rooms but the few 2BR high floor winter fixed weeks were $109K. I think a 1BR spring season fixed was in the $50K range, but I left my notes on Maui.

    Loved the rooms, especially the balconies, but it makes the MOC resale fixed winter weeks look cheap.
     
  13. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    The $109,000 per week number projects to $5.7 million for an oceanfront 2BR condo. Even at Hawaii prices, that's pretty crazy. And if one says, "well, that was for a peak winter week", you could still easily project a $3.5 million price tag and choke on how crazy that pricing is.
     
  14. Dillonmcdog

    Dillonmcdog Guest

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    We just returned from Maui June 30th . We spent 2 weeks there which I rented form RedWeek. One week at Marriot (Ocean Club) 1 week at Hyatt Residence..

    The Marriott was an older room 1Br lock off (used to be 2 rooms only /w br). So we got the 1 room 2 bathrooms and a mini kitchen (small fridge/ freezer, no stove

    We did however have an amazing view from the 4th floor overlooking shuffleboard courts which view the northern pool and the ocean. The view was amazing and really impressed.

    The 2nd week was a 1BR at the Hyatt was just as, if not nicer but we had a mountain view room and the balcony was so windy you could barley sit out there. I really loved the smaller size of the Hyatt and it didn't seem to overwhelm. We also had no issues finding chairs in the shade, unlike the Hyatt Regency next door where you couldn't even find a chair.

    We decided to take the Hyatt's sales pitch to get the free golf (3 of us so it was worth it to me). Half way through it my wife turned to me and said, you're getting weak on me. I almost caved , it sounded so appealing and we really loved the place. We actually stayed 3 hours asking tons of questions and being handed off from the salesman to the finance guy. They don't push you but confuse the heck out of you with the numbers that when you step back , really don't make the most sense but sound good at the time. They advised us since we live in NY and wouldn't be there every year to go for the EOY (we were looking at the 2 Br mid floors) lower floor (to save a few thousand) and that we could trade it in and use the trade in value for every year in the Caribbean, that the Hawaii value was that high. We would also only pay MF every other year too.

    Here was the break down - 2BR mid floors EOY = $43,260 , with 4326 deposit + closing costs for a total of $4711 due at contract signing. You then finance through them at 13.9% and (refinance right way at a more reasonable rate if you need to). They offer you $1800 incentive or 150,000 Hyatt points that can be used at their hotels.


    They ask your interest on a scale of 1-10 to gauge how realistic they can sell you on this. Since I was a 6 and my wife was much lower they then handed us off to the last person. She made the offer you can't refuse.

    Freeze today's priced for 2 years , pay $249 down then pay $240.24 a month for 21 months = $5,294 ($5045 + 249). This entitles you to return within 2 years and stay in a 2 BR unit. If you decide to purchase then , they will take the 5K and put that towards your down payment. When they tell you this it sounds like you are getting a free room upon your return but in reality , if you purchase it is no different then if you purchased and started staying there, You just used 2 years to come up with the down payment. If you decide to not but form them, then you spent 5k+ to rent a 2Br for the week. (Edit) Forgot to add the 100,000 Hyatt points if you purchased this way.

    The other thing them mentioned was you could only buy (I am assuming from the developer) while you are in Hawaii. You cannot buy from the mainland, so that is why they give that incentive to return like that.

    I am familiar with RedWeek but afterwards did research and found this site which I just joined and look forward to tons of research. The Maui trio is still fresh and I still have that bug to purchase even though it does not make sense at this time which is why I will not but yet.

    Sorry for the long post (my first on here)

    Thanks
    Brian
     
    Last edited: Jul 10, 2018
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  15. Naritai

    Naritai TUG Member

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    Brian, thanks for the great summary. I too loved the resort and as I mentioned above I did buy the deal to return in 2 years. I also found that it was never crowded (I went in Feb). Looking forward to going back, though I'm still really not sure I'll buy.
     
  16. WalnutBaron

    WalnutBaron TUG Review Crew: Veteran TUG Member

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    First, welcome to TUG! You found us in time to save a ton of money.

    Thanks, Brian, for posting and for sharing your experience. I assume you did not purchase, and that was profoundly the RIGHT decision. You will learn that the huge majority of us here at TUG advocate always buying resale.

    For example, Redweek currently lists two EOY island view 1BR units for about $13,000. They also list a 2BR ocean view at $38,000–a much better value than what the developers offered for much less money.

    The point is this: read these boards, ask questions, learn all you can. Start with the stickies at the top of the Hyatt forum, where you’ll learn a ton.

    Remember that you can also trade into HKB through your ownership of another Hyatt property. Admittedly, it’s not the easiest trade to get, but I recently traded a week at Hyatt Pinon Pointe (which has annual maintenance fees about half of what you would pay for HKB) for a week in December at HKB.

    Bottom line, you can definitely save $$$. One more piece of advice: don’t buy a timeshare if you must finance the purchase. Timeshares are NOT a financial investment. But they can provide a lifetime of memories, as long as you can afford the upfront purchase and the annual maintenance fees.

    Good luck!
     
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  17. NWTRVLRS

    NWTRVLRS TUG Member

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    We too traded Hyatt Piñon Pointe for a week at the Hyatt in Maui
     
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  18. Dillonmcdog

    Dillonmcdog Guest

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    That is one of my things that I am trying to explain to my wife. We loved HKB and would love it as our home resort as it would be nice to know it's yours when you want. But since we couldn't go that much we would trade out to the system for Caribbean trips. I saw a HRC property with diamond week in the Keys , it is 2200 points ,same as Maui , but only 9k for a 2Br with 1k yearly maintenance.
    If they are both valued at 2200 points, would I get the same return on the trade for less $$$'?
    TIA
    Brian
     
  19. jhac007

    jhac007 TUG Member

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    I recently purchased a Hyatt diamond week (2200 point) in Key West (winter) for 7K. Actually it was less if you include the free week I got!
     
  20. Dillonmcdog

    Dillonmcdog Guest

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    Have you looked into what you can get if you trade the week into the system?
    During the presentation they said 1 week I'm maui would be like 2 weeks someplace else (2br for 2br)

    If you go by points and they're both 2200 points ,in theory you could trade that in for the same results as Maui
     
  21. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    If I had money to burn, I would consider Hyatt Ka'anapali as a purchase, but still I couldn't buy developer. I would have to wait for resale. It's still going to be expensive.

    We know this cute little gal from Colorado who works at Hyatt Ka'anapali at the front desk. Her name is Stephanie. Anyway, she said there was a guy who bought his 7th week and was happy to own there and was considering the purchase of five more weeks. He said he cannot see owning a house there, and his family loves Maui, so this is his alternative. He considers the weeks a steal for the money. Think of that!
     
  22. lizap

    lizap TUG Member

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    I would be very careful buying another resort and thinking you're always going to be able to trade into HKB. As the resort gets sold out, it will become increasingly more difficult for other Hyatt owners to get a week there. Plus, keep in mind the Marriott acquisition; this is the wildcard. If they decide to open up Hyatts to Marriott owners, it will be that much harder to get to HKB. Buy where you want to go remains good advice.
     
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  23. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    It's difficult to predict. If it does get more difficult maybe that would be the time to buy and there may be more resales at that point but maybe Marriott would exercise ROFR . We are trying to decide whether to buy resale soon or wait it out. Obviously I have no idea what the future holds but these are some of the questions I am considering in my decision.
     
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  24. lizap

    lizap TUG Member

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    HKB is the nicest TS on Maui. It has a relatively small number of units. It will eventually be sold out. Most owners are going to either use their year or rent. It's already somewhat challenging to get; it's only going to get more challenging. We love it there, and may eventually buy a resale unit there. The problem for us is we don't live near the west coast, so it's a long way. It's an easy drive to Orange Beach, AL, that has gorgeous white sand beaches.
     
    Last edited: Jul 12, 2018
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  25. Sapper

    Sapper TUG Member

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    Same decision here. Buy resale now for a higher cost than down the road, but it's probably going to pass ROFR. But resale down the road for less, but I'm guessing Marriott will be more aggressive with ROFR.
     
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