Hawaiian Princess purchase "opportunity"

[Trigger445]

Hello all,
I am new here, but have been reading feverously as a lurker for a while. We recently purchased a Gold EOY Marriott Branson (yeah, from Marriott , but that was before I discovered TUG). I now have a potential opportunity to purchase between 1 and 3 weeks from a trusted private individual at the Hawaiian Princess, 1 BR interior. Sure, I'd love to buy Ko Olina, but not even at resale prices at this point. Thus....

I think I understand the negatives of the Hawaiian Princess (far away from tourist area and restaurants, seedy neighborhood drive to the place, rental car required, homeless nearby in tents, older place, many people actually live there amongst the timesharers, perhaps some rude guards and "random" rule enforcement sometimes, expensive airfare from the continental US partly because of Aloha and ATA going under and high fuel prices, lease expires in about 30 years).

To me, the positives outweigh the negatives. Positives being (it is SECLUDED--we love that, right on a basically private uncrowded beach, each room beach front, temendous views and sunsets, mx fees only around $500/yr/room, secure "compound", I don't need marble and granite, it has a full kitchen, deeded property, relatively cheap purchase for Hawaii, HOA is run by other timeshare owners, rooms remodled in the last two years, etc).

Thus, a few questions:

Anyone have an opinion on what would be a fair price for 1, 2 or 3 rooms (again, 1 BR/1BA interior, so the smallest of the rooms there)? I see one on here for about $2000 in the "want ads", but haven't seen any other sales.

If I understand correctly, I can choose between II and TPI to register the room(s), right?

Follow up to the question above, since I think I know the answer to it, I'd probably go with II, since I already own Marriott in II, but any advantage of using TPI?

Would these rooms trade decent, for those years when we don't want to travel to the island (they are 1-52 week, if that helps)?

Thanks!

 

[AKE]

Based on your description of the negatives... "seedy neighborhood drive to the place, ... homeless nearby in tents, older place, many people actually live there amongst the timesharers,..." the answer is NO, I would not trade into there period and I don't see it as a hot trader. One can get a great hotel room in Hawaii at a inexpensive rate these days which is in a safe area and you don't need a car. As well, Hawaii is no longer a hard trade to get - believe it or not, but prime resorts in continental US are harder to get these days because people dont want to fly, etc . for a variety of reasons such as cost, the hassles now associated with flying and so on.

 

[JudyS]

I've given some thought to trading into this particular resort. My understanding is that it is on the non-tourist side of Oahu and provides a very different experience from the usual tourist resorts. I have read numerous reviews, and it does seem that some people feel unsafe in the area. However, I'm not sure if that's because the area really is unsafe, or if some tourists just feel uncomfortable because White people are in the minority there, and they aren't used to that. (My understanding is that the area has a large Native Hawaiian population, along with a large Asian population.)

The "tent city" nearby definitely scares some tourists, but it should be pointed out that it's not necessarily the same type of homelessness found on the mainland. The people living in tents on the beach are generally doing so legally; there have permits to be there. Also, many of the "homeless people" are people who work, but can't afford the extremely high real estate prices on Oahu. Plus, living on the beach in Hawaii is just more pleasant than living outside in most other places, so some people may be living there by choice. (Although I have heard that some of the people in the tent city are former military personnel who haven't been able to reintegrate into civilian society, and some are drug addicts. So, some of the people in the tent city are similar to "street people" in other areas, but not all of them.)

I hope to stay at this resort someday, partly because of its great beach location, but partly because I would prefer to see the less touristed part of Oahu. I tend to be quite concerned about safety issues (I've been a victim of serious crime), but I don't think I'd be able to tell how safe or unsafe the area is until I was actually there. I would probably be willing to stay there alone, but if my husband wasn't on the trip, I might not go out at night -- I wouldn't really know until I was there and saw the area.

I'd suggest staying there before buying. Trading Places has this resort available often, and you should be able to trade your Branson week for it without any problems. It may have special perks by using Trading Places; you would need to ask them. (Some resorts do, and some don't.) I would not expect this resort to be an especially strong trader.

 

[Laurie]

IMO, unless you are trying to buy a very popular resort that's hard to trade into, $2000 is simply way too much to spend at this time, compared to a bargain-basement price you're likely to find if you wait. Resale prices, which were already low, really are plummeting right now. So don't spend more than you're likely to recover, if it turns out that you want to turn around and sell it yourself later. (Or, recognize now that to unload it later, you might have to give it away.) With that in mind:

First, follow Judy's advice to trade into it once, and see whether you really want to own it.

Then, if the answer is yes, keep checking ebay resales. I bet you'll find one on the resale market for much less.

Third, if you buy this resort, just buy one week to start. See how well it trades, or doesn't, for the years you don't want to use it. If you're really so enamored with it after you own it, you'll be able to find another, and another.

 

[SpikeMauler]

I think I understand the negatives of the Hawaiian Princess (far away from tourist area and restaurants, seedy neighborhood drive to the place, rental car required, homeless nearby in tents, older place, many people actually live there amongst the timesharers, perhaps some rude guards and "random" rule enforcement sometimes, expensive airfare from the continental US partly because of Aloha and ATA going under and high fuel prices, lease expires in about 30 years).

Enough said.

 

[T_R_Oglodyte]

Considering that other Hawai'i properties that are much more popular are currently selling for less than $1000, I think $2000 is overpriced at present.

 

[DeniseM]

There are far nicer properties in Hawaii selling on ebay for $1. I would do a lot more research before I bought. You should look at all your options on the other islands, as well.

 

[jsfletch]

Is the HP fee simple or leasehold?

 

[Trigger445]

Thanks guys

Thanks so far for the advice from all of you--some good things to contemplate here! The person I (might) buy from is interested in selling in a few months, so I've got time to contemplate and watch for better deals at this location, or elsewhere.

Obviously if there are others out there (especially owners at the Hawaiian Princess) with an opinion and a few minutes to type, I'm all ears, and here to learn.

This property is certainly a "love it or hate it", from all the reviews I've read.
The "fall off the lanai and land on the virtually private beach from your oceanfront room" is certainly the love it part for me--we hate the crowds and tourism hotspots.

 

[UWSurfer]

I tend to watch pricing for Maui properties, so I'm not up on Oahu per say...

...BUT over the past few weeks on E-bay I've observed:

1 Bdrm annual floating week, Gardens @ West Maui, (same type of unit I own) go for $5.

Studio unit, even year usage, Gardens @ West Maui go unsold for $1.

1 Bdrm, even year usage, floating week, Kahana Falls go for $810.

NOT in Hawaii, but San Clemente Inn, CREST unit, the largest they have there, sitting now on ebay, closing at 3pm TODAY with ONE bid on it for $100. I'd buy it in a second but I simply have too many weeks (& MF's) already.

Given the glut of reasonably attractive places in NICE areas for few $, I wouldn't even consider someplace in a not so great area for so much.

 

[middleoforchid]

Hi,I'm an owner at Hawaiian Princess .First week bought in 2002,added another week last year.Read all the reviews (10X) on Tug first,called resort's mgr,then took a flt out to Oahu and checked it out personally before we bought.When I was shown the condo,I knew right away it was meant for us.There is just the condo bldg,the beach and the ocean all around you.You look out onto the ocean without any pools or landscaping obstructing your view.If you want the atmosphere or amenities of a resort,HP is not!!!Total 32 t/s units in the 15 story high rise.It's ultra quiet and peaceful there.The security guards are friendly to us,because we don't get roudy and loud or have any misbehaving screaming children with us. HP is a gem in our hearts. But I do agree with everyone else that maybe you should rent or get an exchange first before committing yourself to forever maintenance fees...I would be happy to answer your questions here or PM me. Angela

 

[teepeeca]

Trigger 445

Hi TRIGGER445,

You have a private message.

Tony

 

[Laurie]

FWIW, this area is where the great Hawaiian singer Israel "Iz" Kamakawiwoʻole hailed from.

I believe I'd enjoy an exchange into Hawaiian Princess someday.