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Obviously it is cheaper to purchase addition points on the secondary market, but HGVC does not recognize those points towards elite status. Do people think it is worth paying the premium so they are able to use the elite benefits?
It is something that each person must ask themselves but if it is HGVC elite or Wyndham VIP status, if you must pay 3 times more than resale ( therefore $20,000 or more) I think there are very few people how think that paying that extra amount is worth the money.
Bonus points are ok but you will save more overall with resale.
$124,000 is a lot of money for a single week timeshare.
The question to ask yourself is 56,000 bonus points and Elite status worth the difference between current developer prices and resale prices. The cash savings between the two can be used to purchase whatever you want however HGVC bonus points comes with usage restrictions.
According to the latest Membership Guide, Bonus Points cannot be used to reserve accomodations during the Home Resort week or Club Reservation window. Bonus points cannot be transferred or assigned and cannot be borrowed or deposited into next year's account. It looks like you can convert your HGVC Bonus points to HHonor points - see this post regarding HHonor points http://www.tugbbs.com/forums/showpost.php?p=684442&postcount=3. See page 143 of the Membership Guide for the rules regarding Bonus points - http://www.hiltongrandvacations.com/mg/
Here's a listing of Grand Waikikian resale asking prices from one of TUG's recommended HGVC resale agents - link
Grand Waikikian is still in sales so there might not be a lot of resales available. A TUG recommended HGVC resale agent may be able to help you locate a particular view and/or unit size at the Grand Waikikian via resale. See post #4 in this HGVC Sticky for recommended resale agents - http://www.tugbbs.com/forums/showthread.php?t=58716
The only thing you give up with resale is Elite status.
Thanks for the links!! There is a lot of great information in the threads.
FYI. The developer is offering me 56,000 bonus points to upgrade directly with them. I thought that was a good incentive. They are offering $124,000 for 24,000 pt in a 2BR penthouse at the Grand Waikikian
Paying retail for elite status... paying that amount, whatever the premium...
In a word, ROFLMAO. Sorry, but IMHO, there's better ways to throw away your money.
There are places where that could buy a whole-house, well, most of one anyway. Don't get me wrong. I think HGVC is a great system, and I accept that some peeps want the cachet of a Jaguar, but guess what... it still just a car that rolls on 4 wheels. Why not spend the money on a yacht?