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Biennial Ocean for $1 at Point at Poipu

Lakeclouds

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I saw this on sellmytimesharenow.com:


Is this a good deal? It seems like I may be paying annual MF but only getting to use the resort every other year?
 

T-Dot-Traveller

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Hi @Lakeclouds
Welcome to TUG

Many EOY ( every other year) timeshares bill half the MF yearly .
So if you saw the same ownership but the EY version it would double what you saw listed.
Note - Different resorts and systems have variations on how billing is done . Also the listing will likely say EOY - odd / EOY even.
 

Lakeclouds

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That makes sense. It's EOY-odd. Is $1 a good deal or too good to be true?
 

T_R_Oglodyte

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Hi @Lakeclouds
Welcome to TUG

Many EOY ( every other year) timeshares bill half the MF yearly .
So if you saw the same ownership but the EY version it would double what you saw listed.
Note - Different resorts and systems have variations on how billing is done . Also the listing will likely say EOY - odd / EOY even.
Be cautious with the "EOY" abbreviation. There are some resorts where EY means even years, OY means odd years, and EOY means "even and odd years", in other words annual. I speak from having bought one such resort, being pleasantly surprised to find that it was annual usage.
 

T-Dot-Traveller

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That makes sense. It's EOY-odd. Is $1 a good deal or too good to be true?
Unknown (by me)-
l have learned on TUG that this resort has various legacy ownerships.

Diamond is the most recent before HVC
Diamond convinced some owners to convert to Diamond Hawaii Collection Points that gave flexibility at a higher MF.

FYI - SMTN requires a listing owner to pay a sizable fee. & therefore some old listings may never be deleted .
SMTN - also requires that the closing be done in house & they charge you or the seller for that service.


@T_R_Oglodyte & @artringwald may know more about this resort .
 
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Lakeclouds

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Diamond is the most recent before HVC
Diamond convinced some owners to convert to Diamond Hawaii Collection Points that gave flexibility at a higher MF.

FYI - SMTSN requires a listing owner to pay a sizable fee. & therefore some old listing may never be deleted .
SMTSN - also requires that the closing be done in house & they charge you or the seller for that service.


@T_R_Oglodyte & @artringwald may know more about this resort .

Yeah I've stayed there way back when it was Embassy before Diamond. It's a nice place or was last time I stayed.

How much of a fee can SMTSN charge someone when the sale price is $1? Seems like they just want to get rid of it.
 

T-Dot-Traveller

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Yeah I've stayed there way back when it was Embassy before Diamond. It's a nice place or was last time I stayed.

How much of a fee can SMTSN charge someone when the sale price is $1? Seems like they just want to get rid of it.

The price paid is irrelevent
SMTN - is a listing company

They make money by being paid by the existing owner to list. Their contract requires that their internal closing company be used . There is also a transfer fee from the resort .
If this is truly deeded - there could a Hawaii county fee to record the deed.

From memory -
TUG members who have bought thru SMTN have mentioned fees of $ 1000- $2000.
 
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DaveNV

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Also, isn't there a lawsuit going on by owners of guaranteed ocean view units, (Buildings 3 and 4?), because a new property is being built between P@P and the ocean? My understanding is those units were sold with "unobstructable" ocean views, because the land between them and the ocean was sacred Hawaiian land, and unbuildable, or something like that. The new property is being constructed on that land, and will block those guaranteed views. (I have only heard this, but would verify before buying anything at that resort.)

Dave
 

Lakeclouds

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Also, isn't there a lawsuit going on by owners of guaranteed ocean view units, (Buildings 3 and 4?), because a new property is being built between P@P and the ocean? My understanding is those units were sold with "unobstructable" ocean views, because the land between them and the ocean was sacred Hawaiian land, and unbuildable, or something like that. The new property is being constructed on that land, and will block those guaranteed views. (I have only heard this, but would verify before buying anything at that resort.)

Dave

Interesting - not finding any mention of that on web. There was an owners website set-up when they had lawsuit with Diamond over 10 years ago but looks unused recently.

Does anyone know if they have been updating the units or are they looking a bit dated?
 

alexadeparis

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Interesting - not finding any mention of that on web. There was an owners website set-up when they had lawsuit with Diamond over 10 years ago but looks unused recently.

Does anyone know if they have been updating the units or are they looking a bit dated?
Do a search in this forum, I would read all that before pulling the trigger
 

artringwald

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HVC: The Point at Poipu, 3 deeded weeks, 1 of which is in The Club.
Before you buy, ask the seller for an estoppel letter signed by the resort. It will cost the owner about $30. It will show the defined usage and the maintenance fees.

We've stayed at the resort every year since we bought our first week in 2004. It's our favorite vacation destination. The units are overdue for upgrading, and renovation isn't scheduled to start until at least September. It could take awhile since they don't want to take too many units out of service at a time. Aside from the need for upgrades, the two biggest complaints seem to be long walks from the limited number of parking spaces, and poor sound insulation between floors. None of that matters to us. We love the location, the landscaping, the size and layout of the units, and the friendly staff that we see year after year. When we arrive, we feel like we're coming back home. If DW would allow it, I'd buy another week. I wouldn't consider buying anything except deeded weeks.

The property next to the Point at Poipu was not sacred land. There is an area in the middle of the resort that is sacred land. They built around it and signs request that people not enter it. The property next door was sectioned off into 10 lots in 2018, each empty lot going for about $1M. Two lots near the road that have started construction, but after 18 months, this is as far as they got. Neither of them obscures the view of any P@P units.
2023-01-31%2015.56.12-X4.jpg

If they ever sell the 2-3 lots at the bottom of the development, there is a chance that the ocean front views at P@P could be obscured. A house there would constantly be sprayed with salty ocean mist. The view category for each unit is written into the deeds that are registered with the state. Who would you sue to change the deeds? As far as I know, no lawsuits have been filed.

If you want to see plenty of pictures of the property, help yourself.
 

Lakeclouds

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Thanks Art for detailed description - sounds like there are lots that could block Bldgs 3&4 at some point.

Question: why would someone ask $1 and several others asking well over $10K?
 

NachoDaddy

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Thanks Art for detailed description - sounds like there are lots that could block Bldgs 3&4 at some point.

Question: why would someone ask $1 and several others asking well over $10K?
The person selling may have gotten their money's worth out of it over the years and just wants to get rid of it now so as to stop paying the ongoing maint fees?
 

dayooper

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Thanks Art for detailed description - sounds like there are lots that could block Bldgs 3&4 at some point.

Question: why would someone ask $1 and several others asking well over $10K?
There are people that have no idea what their week is worth. Some have them too high and some too low.
 
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