Hawaii Resale Market

[TXTortoise]

While on Maui the last two weeks I was talking to a local broker about how I had kept waiting to see the uptick in listings everyone says occurs once MF notices come out.

While I'd been tracking MOC Lahaina winter listings since 4Q2016, he noted that even he was surprised at how few new listings overall occurred this year, noting that folks may be renting in lieu of liquidating...or using their weeks, I suppose.

I took a quick look at Redweek for Ko'Olina and MOC old buildings and while there were lots of listings, I didn't see many 'Sold' notices, which suggest that there are few buyers, but that the rental market is getting more active. Definitely lots of rental listings and 'sales' on Redweek and Vacation Candy, along with the newish Marriott Facebook pages.

Anyway, just thought it was interesting that he had noticed the lack of new listings across the market, along with my observation that few are buying the Lahaina/Napili weeks, particularly the pricey winter/summer fixed weeks.

 

[MOXJO7282]

I think it's because the economy is doing so good there aren't distressed sellers that bring down the market so prices are going higher and the sellers listing are just waiting for that buyer who wants what he wants and will pay for it. Right now if a buyer wants something he will have to overpay or be creative which is what I'm trying to be on a deal I'm working on.

 

[TXTortoise]

That's pretty much what my Marriott resale guy said today, as a sidebar discussion. He also said they were flush with buy-back dollars to populate the Points system, vs build, so we may see ROFRs increasing. Then again, for those looking to sell back to Marriott, they might have better luck now.

 

[Southerngirl528]

I sure am wanting to buy another Napili/Lahaina week. I would dearly LOVE to get a fixed week, but they are a lot more pricey.

Getting up in the middle of the night HST 2 weeks in a row while on vacation to call at the 13 month window and TRY to book my weeks for winter months at MMOC has become a nightmare. No pun intended..... still didn't get what I wanted either call.... ugh.

 

[TXTortoise]

SG, I'd keep an eye out if you are targeting winter weeks. Between the ROFR.net list and my private tracking I can tell you even the winter weeks are either dropping, a slight bit, in price or have been sitting at a high price so long that you should make some offers.

But, getting cheaper means you're still in the 30k-40k range for 2BRs January weeks bought from a broker. (I can't remember the last time I saw a winter Napili week anywhere. Fewer fixed I expect, but the ones I saw last year sold lower than Lahaina tower pricing, and all 3BR.)

That said, many weeks are probably as MOX said, "I don't really want to sell, but if you'll pay my price....". ;-)

 

[Southerngirl528]

SG, I'd keep an eye out if you are targeting winter weeks. Between the ROFR.net list and my private tracking I can tell you even the winter weeks are either dropping, a slight bit, in price or have been sitting at a high price so long that you should make some offers.

But, getting cheaper means you're still in the 30k-40k range for 2BRs January weeks bought from a broker. (I can't remember the last time I saw a winter Napili week anywhere. Fewer fixed I expect, but the ones I saw last year sold lower than Lahaina tower pricing, and all 3BR.)

That said, many weeks are probably as MOX said, "I don't really want to sell, but if you'll pay my price....". ;-)

Yeah, there are precious few Napili fixed weeks and when I see them they are really, really pricey! I saw a 3 bdrm fixed, Week 6 as I recall, in Lahaina for what I thought was a good price..... can't swear to anything but I want to say it was just under $40,000?? But I really don't want a 3 bedroom, just a 2 bedroom. I guess if I bought one more float week 2 bedroom, Annual use, it would give me 3 weeks in a 2 bedroom on the odd years and 2 weeks on our even years..... and we usually lock off one unit each year so that would be nice additional time as well. I think I'm going to ask Santa for another week!

We were just at Napili for a couple of weeks last month and I kept wondering if there are often groups of owners that get together. I know a couple of folks here on TUGS have made some good connection with owners wanting to sell their weeks.

 

[StevenTing]

I currently have 3.5 Hawaii weeks. I've been wanting to sell the EOY week but not willing to let it go at fire sale prices. It's ridiculous how cheap some of them are right now. I figure this time around, I'm going to book a prime week and include it with the sale. You know, make it more appealing. Worst case, I take another trip to Hawaii.

 

[TXTortoise]

Steve, FWIW, when buying my first MOC floating 2BR OF week last year, that's what helped me to decide between multiple sellers. The seller had reserved a winter week for 2019. That and I got it for $18k, which helped. ;-)

 

[GregT]

I currently have 3.5 Hawaii weeks.

Plus two of them are 6206

Love that room!!

 

[cgeidl]

We just gave back to our homeowners association four timeshare weeks we had for about 15 to 20 years. We just had the right to use and told them we no longer wanted to use them. They may have had some small value but not worth the hassle of trying to sell. You could probably put these weeks up from the homeowners association for very little money.

 

[VacationForever]

Plus two of them are 6206

Love that room!!

Is it fixed unit, fixed week? Where?

 

[JIMinNC]

We just gave back to our homeowners association four timeshare weeks we had for about 15 to 20 years. We just had the right to use and told them we no longer wanted to use them. They may have had some small value but not worth the hassle of trying to sell. You could probably put these weeks up from the homeowners association for very little money.

I’m assuming those weeks were not Maui Ocean Club, which is what the OP was referring to. Marriott Hawaii weeks most certainly are worth the hassle to sell, as depending on what you own, resale prices could be anywhere from a few thousand dollars well up into five figures for oceanfront Maui Ocean Club, with fixed units in Lahaina/Napili often selling resale for $30,000 or more.

 

[GregT]

Is it fixed unit, fixed week? Where?

Yes, this the 3BR unit in Lahaina Villas, on the 6th floor. It was the model unit when Marriott was selling the new towers, and it has a spectacular view. My Avatar (?) is from the balcony, and the pic is from Marriott's website.

I own 6206/25 and Steven owns 6206/22 and 6206/23. We are working on the owner of 6206/24 to sell, but he has been stubborn (and has been, for 8 years now).

6206 rocks. I miss Maui!

Best,

Greg

 

[VacationForever]

Yes, this the 3BR unit in Lahaina Villas, on the 6th floor. It was the model unit when Marriott was selling the new towers, and it has a spectacular view. My Avatar (?) is from the balcony, and the pic is from Marriott's website.

I own 6206/25 and Steven owns 6206/22 and 6206/23. We are working on the owner of 6206/24 to sell, but he has been stubborn (and has been, for 8 years now).

6206 rocks. I miss Maui!

Best,

Greg

WOW! You guys are amazing...

 

[TXTortoise]

You need to read this thread to appreciate how amazing GregT's effort was... ;-)

https://tugbbs.com/forums/index.php?threads/moc-shuffle.229816/

I'm still trying to replicate for winter what he managed in summer, in getting sequential weeks on another floor.

 

[MOXJO7282]

I'm really missing Maui as well. We haven't been since 2014 after going every other year since 2002 . We'll be there was 2 weeks this July/Aug and can't wait. I find myself every day checking reviews for restaurants and the Maui RC that we're possibly staying at our first week.

The big dream is getting closer as well when we can spend a month or more on our beloved Maui. I'm hopeful that could happen in 5 years or so.

 

[NTP66]

The big dream is getting closer as well when we can spend a month or more on our beloved Maui. I'm hopeful that could happen in 5 years or so.

My wife has been reluctant to do more than 7 days in Maui the last two trips because of missing work, but I'm finally working her over to just push it aside and enjoy the time off like normal people. So, 11 days this June, and two weeks for every trip after. Neither of us can swing a full month at a time right now, but once our daughter goes to college, we hope to have no more use for our timeshares outside of using it solely as cash flow via rental.

 

[StevenTing]

WOW! You guys are amazing...

It was a lot of work and I almost walked away from the deal. Actually, I did walk away for about 5 days and then I made one last attempt and the broker spoke with the owner about the pros and cons of accepting my deal.

And in the future, hopefully Greg and/or I can acquire 6206/24. We'd then have our own little exchange company between ourselves.

 

[gblotter]

My wife has been reluctant to do more than 7 days in Maui the last two trips because of missing work, but I'm finally working her over to just push it aside and enjoy the time off like normal people.

Oh, I don't recommend that at all. We learned that lesson the hard way. During that second week, you really slow down and personality changes set in. Staying two weeks in Hawaii makes it so much more difficult to get on the plane home. Some serious depression issues were encountered trying to get back into the swing of life after returning home. Don't mess with PHSD (Post Hawaii Stress Disorder).

 

[NTP66]

Oh, I don't recommend that at all. We learned that lesson the hard way. During that second week, you really slow down and personality changes set in. Staying two weeks in Hawaii makes it so much more difficult to get on the plane home. Some serious depression issues were encountered trying to get back into the swing of life after returning home. Don't mess with PHSD (Post Hawaii Stress Disorder).

We've done two weeks before our daughter was born, but really, I'd feel that way even after leaving Maui after only a few hours. That our units are EOY compels me to get as much time in as possible, too.

 

[GregT]

Don't mess with PHSD (Post Hawaii Stress Disorder).

Good advice.

 

[mjm1]

Oh, I don't recommend that at all. We learned that lesson the hard way. During that second week, you really slow down and personality changes set in. Staying two weeks in Hawaii makes it so much more difficult to get on the plane home. Some serious depression issues were encountered trying to get back into the swing of life after returning home. Don't mess with PHSD (Post Hawaii Stress Disorder).

Love it!

Mike

 

[hangloose]

This will be an interesting trend to watch. MVC Hawaii weeks generally tend to command a premium, as the creme of the crop...especially when looking at Ocean Front or Ocean View villas. IV/MV/GV are generally cheaper. After watching the trends for a while, I purchased two MVC Hawaii weeks last year, a MOC 2BR OF EY and a MKO 3BR OV EY. Both found in late summer at what I feel were reasonable prices, $19k and $17.5k respectively. I always thought inventory would increase (thus lower resale prices) in 4Q17/1Q18 as maintenance fees were due and owners were looking to sell, but that influx of resales never came through locations like RedWeek. As a result, resale inventory for OF/OV seems limited in quantity thus prices remain high. Perhaps, it is due to the economy being better? Not sure, but maybe a good sign for us HI owners that value will remain for these top quality weeks?

In any event, I'm glad I found my two HI weeks. My only fear now is that I'll continue to have to be creative with my weeks and book them consecutively well in advance (13 months+) in order to get the reservation dates and villa placement I want. That's tough when competing for high demand weeks against those with many more weeks than I own. Long term, I think owning fixed weeks where possible is the best alternative...assuming the fixed week works and finances work out. Congrats to StevenTing and GregT for realizing this and making it happen with their 3BR Fixed MOC weeks. Maybe I'll be there in a few years, but at this point we just cannot commit to the same week annually nor the added expense those weeks require.

 

[myoakley]

In 2010, I bought my Marriott Kauai Beach Club on e-bay. At that time, there were approximately 100 offers of Marriott timehares on e-bay on a daily basis with quite a few in Hawaii. I have been following the listings ever since, and have seen offerings decrease to approximately 30 - 40, with very few in Hawaii. Has anyone else noticed this? I wonder if this is due to an improved economy and people no longer anxious to unload their timeshares or to Marriott exercising ROFR and nullifying these bargain e-bay sales.

 

[MOXJO7282]

Both found in late summer at what I feel were reasonable prices, $19k and $17.5k respectively. .... Not sure, but maybe a good sign for us HI owners that value will remain for these top quality weeks? ..... Maybe I'll be there in a few years, but at this point we just cannot commit to the same week annually nor the added expense those weeks require.

Not only did you get excellent resale price points but you bought special units 2BDRM OF MOC and a 3BDRM OV MKO so these will no doubt hold their pricing. I too admire the guys with the fixed weeks and if the fixed weeks were around when my family was younger I would've really went after them.

In hindsight though I'm glad we didn't have the opportunity because while I was desperate for the same week, pres week, to coincide with my kids school calendar back then things change and now we don't need the same week and can be flexible so paying a significant premium for the exact week was only temporary and I would've paid a premium for only a few years of benefit.

I paid $19.1K all-in for an OF float new tower and now contracting an ODD year of the same for $14k all-in which I will be able to secure a prime winter week with. Maybe not Pres week Saturday check-in because those are like the holy grail but a good winter week I can use or rent.

To get a fixed winter week you're talking $30-$40k+ so that is a real premium for the right to the same unit /same week. If I really needed the same week then I would be of the same mindset to pay the premium but luckily I don't have to.