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Nanea to be sold only as flex later this summer

Discussion in 'Vistana Signature Experiences (formerly Starwood)' started by Tucsonadventurer, Jun 3, 2019.

  1. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    We just attended a presentation at Nanea and were told that Marriott is going to have them only sell units as flex starting later this summer.Same with remaining north and south weeks. Sounds like days of buying floating weeks from the developer even in Hawaii will be a thing of the past
     
  2. controller1

    controller1 TUG Member

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    Nanea is not part of Westin Flex but Nanea is only sold as a flex product now. Nanea is not sold as floating weeks.
     
  3. ValleyGirl

    ValleyGirl TUG Member

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    Nanea sells Home Options (12 mos atNanea only) they then become star options. They sell Home Options in a variety of 1Br an 2BR Every yr, every other years and just a flat amount of options. There are two distinct and separate home option groups (Oceanfront and Resort View) Oceanfront is sold separately with higher initial cost and Mx fees. Island view options cannot reserve Oceanfront until 8 mos like all other star option res. And Oceanfront cannot res Resort View at 12 Mos. It is not part of WESTIN Flex (Yet)
     
  4. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    Correct but they are telling us by the end of the summer the remaining inventory will be sold as flex only.
     
  5. SteelerGal

    SteelerGal TUG Member

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    How many units are remaining?
     
  6. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    Last I saw was that it was only 50% sold.
     
  7. controller1

    controller1 TUG Member

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    I read somewhere that 90+% of OceanFront has been sold and approximately 55% of Resort View has been sold.
     
  8. Markus

    Markus TUG Member

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    Sounds like a strategy that is consistent with past patterns. Least desirable inventory is dumped in the trust and sold off.
     
  9. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    Unless they still have whole deeded units that they can unconvey from the Nanea trust and reconvey to the Flex trust, I am not sure they can do this. The trusts can only hold real estate. I don't think Beneficial Interests in a trust can be conveyed to another trust. So they could deed a bunch of unbroken units out of the Nanea trust over to Flex to make this happen. Really that is what they should have done to begin with. Vistana made a mess with all these separate Home Option setups with Nanea and WSJ then came along with the two flex programs. They should have just created the two flex programs to begin with and put WSJ new phases and Nanea in to Westin Flex.
     
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  10. duke

    duke TUG Member

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    Yup, this is what I was told last week as well.


    No flex sales in Hawaii until July.
    Then only sales of Flex.

    FYI -

    Now:
    $50,000 minimum cash to upgrade to Ocean Front
    $30,000 minimum cash to upgrade to other Hawaii units.
    So, those trade in reports of $10,000 cash are not true for Hawaii.

    Nanea is only 50% sold.
     
  11. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    The resale value for Nanea will be like Westin Princeville's resale value; meanwhile, the other Westins on Maui will remain valuable and may even go up in value (as resale). I would stick with the mandatory and not even consider resale Nanea.
     
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  12. vacationtime1

    vacationtime1 Tug Review Crew: Rookie TUG Member

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    I agree that the resale value of Resort View units an Nanea will sink like a stone to Princeville-like levels. Nanea owners should get decent units if they reserve at twelve months in non-prime seasons. But when the place is fully reserved by owners (such as during whale season, summers, and holidays), at least some owners -- ~20% -- will get the parking structure views. And any Resort View owner who waits past eight months to reserve will likely get a parking structure view or have to do a disadvantageous trade using Interval.

    However the Ocean Front units should fare reasonably well upon resale; I anticipate WKORV/N pricing. The views are good and the rental possibilities should be strong. Nothing wrong with those units any season -- as long as they are reserved before eight months -- after which any StarOption owner can grab them.

    None of this suggests I would ever even think about buying Nanea. But I think the OF units may be appealing on the resale market to some in a few years when the price stabilizes (especially those who need a three bedroom unit).
     
  13. pchung6

    pchung6 TUG Member

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    I disagree Nanea OF resale will be at WKORVN pricing. Nanea OF MF will be so expensive, I would just keep my WKORVN OF any second.
     
  14. dss

    dss TUG Member

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    I also think that even Nanea OF resale will sink considerably once the market is established. While the 3br units are nice, I do think they are flawed for some use cases as well (no lock-off, sleeps the same 8 as a 2bd next door) and extraordinarily high MFs. We have seen how higher MF's have created some downward price pressure on Dexlue OF at WKORV (Corner units) and actually added value to the Premium OF (Center) units. My personal preference (by far) is the Dexlue OF unit with it's extra space and size, but there is no question the center unit is a better "value." Over time those items matter, so being voluntary with very high MF's feels like a recipe for a very soft aftermarket at Nanea.
     
  15. controller1

    controller1 TUG Member

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    I'm not following the posts of doom and gloom on Nanea OF MFs. For 176,700 options (2-bedroom OF) at both Nanea and WKORVN, Nanea's MFs are currently 10.8% higher than WKORVN. On a per square foot basis for the 2-bedroom OF, Nanea's MFs are 7.9% higher than WKORVN. I don't consider those differences to be significant.
     
  16. Moparman42

    Moparman42 Guest

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    I know we focus a lot on resale here, but I still see the value in where I want to stay. KORV has better food and beach, but Nanea is a wonderful place to be as well. I am happy to be an owner at both places. The 'doom and gloom' about resale values passes over the most important thing about timeshare owning. USING it, if you do the math on how much you save each visit vs rack rates and subtract that from the original cost you paid, you will find the true value. I am not going to sweat and fear over resale values, instead I am looking forward to many more years of using my weeks, then passing them onto my kids to enjoy. Just thought I would chime in and state my opinion about the resales.. same with buying a car, or a house, or anything else. The fact that these timeshares HAVE a resale market just means that we can get something back out of it in the end. In the meantime, travel and enjoy the islands. -my opinion-
     
  17. celica7101

    celica7101 TUG Member

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    I think the key comment about your post is that the original cost paid is a better value if obtained resale.


    Sent from my iPad using Tapatalk
     
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  18. blondietink

    blondietink Guest

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    We did not buy resale (I knows, ugh) but over the last 10 years of owning at SVV and Lagunamar we have more than made back our money spent. We always stay anywhere we go more than 10 days and the costs in places like Harboside and Hawaii if paying cash would have been astronomical, especially when you have to pay resort fees and taxes on a cash stay.
     
  19. Moparman42

    Moparman42 Guest

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    Absolutely buy resale to get your value back sooner. I bought my first from the developer before I discovered TUG and had some definite buyers remorse, but got over it because I love to vacation in Maui. I purchased my second resale for a fraction of the cost, so by combining them I will break even sooner AND get to spend more time in Hawaii. However, have you all considered that if we talk everybody out of buying from the developer, then there won't be as many resales on the market for us to scoop up? SOMEBODY has to buy new so they can sell them to us resale.. Still glad I found TUG and used your knowledge to make proper use of my timeshares and to avoid the pitfalls that would cost me dearly.

    I'm excited for my owners update in November as I always know more than the salesmen do and they hate that...
     
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  20. Tucsonadventurer

    Tucsonadventurer TUG Review Crew: Veteran TUG Member

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    They are buying back at Nanea also. We were offered more than we paid for Kierland off the price for either Nanea or North. Nanea prices are exactly the same as Hyatt Kaanapali right now. If Westin is selling Hawaii as flex only this August that would put them at a disadvantage .I would think Hyatt would sell more Kaanapali units than Nanea Unless Marriott has Hyatt sell Hawaii also as part of their points program. It will be interesting to see Marriott's marketing strategy
     
  21. Sicnarf

    Sicnarf TUG Member

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    Just did an owner's update at Sheraton Kauai Beach Club yesterday. They are only selling Nanea and need $35k new money for trade ins. Cost for 95700 SOs is ~$35k after incentives and ~$1600 annual mf.
    We are staying in a 1br. Unit is tiny.. no master bath or dining table. Closet space is limited as well but has w/d, 4 burner electric cooktop, microwave and 16cu ref.
     
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  22. Ken555

    Ken555 Tug Review Crew: Rookie TUG Member

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    Please take pictures of the 1-bed and post them in the other SKR thread (or lets start a new one). I’m checking out today and will post pics from the studio and 2-bed non-LO this weekend.


    Sent from my iPad using Tapatalk
     
  23. celica7101

    celica7101 TUG Member

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    I don’t think anyone has to worry about running out of resale opportunities given the number of people that check out TUG after their rescind period is done.



    Sent from my iPhone using Tapatalk
     
  24. KACTravels

    KACTravels TUG Member

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    I have been watching this thread since the beginning and am confused. I have to ask, hasn’t Nanea ALWAYS only been sold as Nanea Flex? Why is this new?
     
  25. Moparman42

    Moparman42 Guest

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    AS a buyer at NAnea before it opened, I can answer that. The sales people misrepresented the product as deeded weeks, NOT a flex points type purchase. So it always has been, but a lot of buyers were not aware of that due to the sales persons lips moving. I also was under the impression that it was a deeded week, as I was told as much.
     
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