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Advice please

Hawaiilife

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I live on Oahu and did a staycation at the Marriott Beach club in Ko'olina this week. I purchased a 7000 point package which came out to about $71,000 after 20% discount and deducting the cost of our stay. Includes lifetime gold Marriott reward status.

I have two little ones and like to travel with my extended family(group ranges from 4-10people). I would like to have the option of getting separate 1-2 BR suites for 2-3families. Usually this would be for Hawaii and West coast for the near future. We are tied to a school schedule so everything is planned out over a year in advance, although for long weekends, we could hop over to Ko'olina easily to take advantage of discounted point rates. As the kids get older, my husband and I would like to do more tour travelling ie like a safari. It sounds like we could do this with the points, although I am not sure if this is a cost effective way to use them. I think we would be comfortable with MF $4-5000 range. I know MFs go up over time and it makes me a little nervous, but it still sounds less expensive than travelling without a timeshare.

Is my best option to rescind and go with the 7000points resale(to get the 13month booking window) and renting out more as needed? It looks like points go for about $4pp with $2pp registration fee to Marriott. Still saves over $25,000. Are there truly no other down sides to resale besides not being able to resell points for Marriott reward points?
Would anyone recommend other timeshares I should look into?
Thank you for all the wonderful info that is available on this site!
 

vacationtime1

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Is my best option to rescind?
Absolutely.

Also, 7000 points is nowhere near enough points to reserve 1-2 BR suites for 2-3 families.
 

Passepartout

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For 25 years, the TUG mantra has been, "BUY RESALE! SAVE THOU$AND$!" Rescind, research, buy resale.

Jim
 

Hawaiilife

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Absolutely.

Also, 7000 points is nowhere near enough points to reserve 1-2 BR suites for 2-3 families.
For our spring break last week, we got a 1BR and a 2BR. There were three families, all with really young kids(1-6yo), so it wasn't really a problem. We will need more space as the kids get older, but we think we'll be ok for a few more years. For a 6day, 5night at Marriott Ko Olina Beach club, worked out to 6,425points. I would like to do something comparable yearly.
I think you are right that will need more points, but we bought the lowest amount of points to get to the executive level for the 13month booking window. I was thinking we could rent any additional points we needed but get stuck with the lowest MF possible.
 

iwanttoflyaway

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RESCIND! You clearly have the ongoing funds to own a timeshare, given your level of comfort with high maintenance fees - don't throw away $70,000+ to own what you can purchase for much, much less on the resale market Just because you have the money to burn, doesn't mean you have to waste it. If, by some miracle, you still think it's worth that much after you've done the research, the same deal or better will be waiting for you in the future.
 

TUGBrian

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holy smokes...welcome to TUG!

you quite literally just saved $71,000 bucks!
 

Hawaiilife

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I don't like to feel rushed into a purchase. So even for that reason, I felt we should rescind.
I just needed the affirmation and encouragement.
Thank you all again!
 

LisaH

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Yes, rescind. BTW, are you somehow associated with the HGTV show Hawaii Life? :D
 

Mosescan

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Not only is resale generally the better option, but Marriot may or may not even be the best system for you. Before you jump right back in with resale, do some research here on the BBS and look at the different major systems and see which one works best for you. They all have some resorts in locations that the others do not and so one may be better for you based on that or maybe several have locations that work for you but you like one system over another. As we say in the army "time spent in recce is never wasted".

Good luck and happy hunting.
 
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