Did I Do OK on this Ko Olina Purchase?

[Ozz]

This is my first timeshare purchase. I just bought an annual 2BR OV Penthouse for $12,500. The seller paid all closing costs including title insurance, ROFR and resort transfer fees. 2012 usage was available but I felt it was too late to get a good week. The seller agreed to start usage in 2013 so I didn't have to pay the 2012 MF.

I was looking for just a regular ocean view but stumbled across this penthouse unit. I believe the maintenance fees are the same but there are less units of this type. I hope I didn't make a mistake.

Oz

 

[m61376]

Nice to know you will always have a high floor unit- enjoy!!
Oh- welcome to Tug!!

 

[slum808]

I think that's a good price for an ov penthouse. There may be fewer units, but there's also fewer owners booking them. Congratulations, and Welcome to Tug.

 

[larryallen]

I believe that is a good buy for the penthouse as that is roughly what normal units go for. Good job!

 

[pipet]

Grats! I think it's a great price. Many pay that much for reg OV.

 

[ada903]

That's a good price for an ocean view and an awesome price for a penthouse. The seller paying closing is also non-typical, great savigs there. Congrats!

 

[golf4hrs]

Hawaii Public Records

I think you made a good purchase since I am a happy Ko'Olina OV owner. One should always try to buy low, sell high and do their homework. I was fortunate enough to beat every eBay closing price in the last 2-3 years and still feel happy even today about this investment. Each individual has a different ROI.

One way to feel good about your ROI is check out what the seller paid for the original property or timeshare. In Hawaii (like most states/counties), it is public information and searchable. I would have politely asked for the seller's name, grant deed number and purchase date. You will still encounter this info as you proceed to closing. Hopefully Marriott does not exercise ROFR.

Please check out: https://boc.ehawaii.gov/docsearch/nameSearch.html
You can search on Name or Document number.

Another good comparison is researching the new Disney Aulani pricing in Ko'Olina. Subject for another e-mail thread. You get to share the same oceanview, same awesome sunsets and witness the same whale watching events without forking over $50k or more.

For anyone interested in golf, the 2012 LPGA Tour will stop in Ko'Olina 4/18-21/2012. This TV event will also increase the value of Ko'Olina as a world class resort.

 

[Beefnot]

Seems to be a decent price, and I am not even a Marriott owner. And it is an exponentially more sensical purchase than Aulani, or any DVC resort for that matter. Good job, enjoy.

 

[m61376]

This should make you feel even better

 

[Ozz]

Thanks to everyone for their input and warm welcomes. This is a great community and I look forward to learning from all of you.

Oz

 

[gblotter]

This is my first timeshare purchase. I just bought an annual 2BR OV Penthouse for $12,500. The seller paid all closing costs including title insurance, ROFR and resort transfer fees. 2012 usage was available but I felt it was too late to get a good week. The seller agreed to start usage in 2013 so I didn't have to pay the 2012 MF.

I was looking for just a regular ocean view but stumbled across this penthouse unit. I believe the maintenance fees are the same but there are less units of this type. I hope I didn't make a mistake.

Congrats! I think you did VERY well at that price. Your seller was obviously motivated, and that worked to your benefit in several ways it seems. Did you find this on eBay or elsewhere?

There may be fewer units, but there's also fewer owners booking them.

Same concern. In 2011, we purchased a Ko'Olina 2BR Ocean View week on eBay. We considered Ocean View Penthouse, but worried a little about getting the reservations we want because there are relatively few penthouse units in the inventory, and Marriott controls much of that inventory in the DC. Some of the penthouse inventory is also occupied by Marriott sales offices (for who knows how long).

In the end, an Ocean View unit works better for us mainly because I have a fear of heights. I have seen the Ocean View Penthouse units while on sales tours, and those views are indeed spectacular. But I can barely force myself onto the balcony because of the height. I'll take floor 5 or 6, thank you very much - hahah.