HGVC Grand Islander timeshare

[catpau179]

Hi, this is my first post so I thank everyone in advance for help/suggestions.
We are looking at purchasing a resale GI with 20160 points for a very low price and the maintenance fee is very reasonable too, about 10c per point. I have seen similar listings advertised at literally 10x the purchase price we will be paying.
The company selling on behalf of the owner is very reputable as well, so I’m not concerned about that. However, I’m just wondering whether I may be missing something as to why it’s so cheap eg. Is GI a great resort to own? Do you know of any big increases in MF in the next few years etc?
Thanks

 

[RebelR]

I'm still relatively new to this also so take this with a grain of salt but what I generally check is:
-Season: Platinum or Gold, Gold is usually cheaper but then also harder to offload if you decide you don't want it any longer
-Frequency: Every Year or Every Other Year, Every Other Year is usually cheaper but then also harder to offload if you decide you don't want it any longer
-Seller: If you're buying through certain brokers or redweek, their closing costs are going to be very high, sometimes the lower purchase price compensates for the differential you'll be paying in the closing costs (although admittedly not 10x usually)
-Maintenance Fees: If they're asking you to pay for this year's fees or not will often alter the purchase price (similar to the closing costs)

 

[SmithOp]

It does sound suspicious, the GI developer prices were upwards of 6 figures.

The estoppel should be provided by a reputable dealer, so make sure it indicates what you think you are buying.

 

[catpau179]

I'm still relatively new to this also so take this with a grain of salt but what I generally check is:
-Season: Platinum or Gold, Gold is usually cheaper but then also harder to offload if you decide you don't want it any longer
-Frequency: Every Year or Every Other Year, Every Other Year is usually cheaper but then also harder to offload if you decide you don't want it any longer
-Seller: If you're buying through certain brokers or redweek, their closing costs are going to be very high, sometimes the lower purchase price compensates for the differential you'll be paying in the closing costs (although admittedly not 10x usually)
-Maintenance Fees: If they're asking you to pay for this year's fees or not will often alter the purchase price (similar to the closing costs)

Thanks for the information, I should have included alot more detail.
It’s an even year timeshare, but that suits us perfectly as we live in Australia and only vacation in Hawaii once a year.
Season is Gold, but again that suits us as the MF/points ratio is still really good, and I’ve also negotiated paying 1/2 cost of 2026 maintenance fee as full points are available to use.
I realize that resale won’t be that good due to EVEN year and Gold season, but when we’re buying it for $1500, can you see any other red flags?

 

[RebelR]

Thanks for the information, I should have included alot more detail.
It’s an even year timeshare, but that suits us perfectly as we live in Australia and only vacation in Hawaii once a year.
Season is Gold, but again that suits us as the MF/points ratio is still really good, and I’ve also negotiated paying 1/2 cost of 2026 maintenance fee as full points are available to use.
I realize that resale won’t be that good due to EVEN year and Gold season, but when we’re buying it for $1500, can you see any other red flags?

No. I was recently looking at a 18560 even year gold deed ar the same resort with the same seller I bought my district deed from for $999 paying all 2026 fees so I think the price doesn’t seem too odd. He also had an estoppel that I could review which was a positive as well. I didn’t move forward just because I didn’t want to buy too much too fast.

Like the prior poster said, I would review the estoppel and then move forward if everything seemed good. Just keep in mind that if this is your only hilton deed that you will have to pay club dues (about $230) yearly even though maintenance fees will only be every other year.

 

[scottc42]

I don’t have a lot of input on your original question, only to say that maybe the seller just really wants to move it quickly.

I CAN say that my wife and I really like Grand Islander, even though we usually stay on the Big Island.

 

[Chris-ATX]

I suggest you think about how you will get out of the deed once you are done with it, as @RebelR correctly points out, Gold season and EOY deeds are less desireable on the resell market.

There is a reason the seller is offering "such a low price". This is what they have to do to incent someone to "buy" it and for them to get out from it. So, what does that tell you about your future prospects of selling it when you are done?

There are a lot of deeds and points are point, unless you need a specific location in order to book the week / time you want. I encourage you to be patient and find the right one. Perhaps this is it. Or maybe something else. Only you can determine that decision.

 

[catpau179]

I suggest you think about how you will get out of the deed once you are done with it, as @RebelR correctly points out, Gold season and EOY deeds are less desireable on the resell market.

There is a reason the seller is offering "such a low price". This is what they have to do to incent someone to "buy" it and for them to get out from it. So, what does that tell you about your future prospects of selling it when you are done?

There are a lot of deeds and points are point, unless you need a specific location in order to book the week / time you want. I encourage you to be patient and find the right one. Perhaps this is it. Or maybe something else. Only you can determine that decision.

Thanks and I agree totally, however, if I’d be happy to sell this down the track for next to nothing, I guess the main thing to consider is the MF / point ratio, would you agree?

 

[cd5]

I think the point being made is that you may stay stuck with it even if you want to give it away eventually....

 

[WaikikiFirst]

resale GI with 20160 points

even year timeshare, ... Season is Gold

Am I the only one who thinks 20,160 pts comes from a Platinum deed? Maybe I am wrong, but it looks like a red flag that the facts may be wrong. Estoppel is your friend. Prior to that, maybe demand a screenshot fo their HGVC owner page with details?

 

[GT75]

Am I the only one who thinks 20,160 pts comes from a Platinum deed?

You are correct. If the deed is 20,160 pts then it must be 2BR+ platinum season. This would put MFs at $2515.32 or $0.125/pt.

 

[KJDJ]

I am interested in buying resale. Know virtually nothing about it. Just purchased a trust in the Hawaii collection but stin have a few days to recind (sp?)
Any advice would be greatly appreciated.

 

[mjm1]

I am interested in buying resale. Know virtually nothing about it. Just purchased a trust in the Hawaii collection but stin have a few days to recind (sp?)
Any advice would be greatly appreciated.

Rescind immediately while you can. What you bought is the old Diamond system. You are much better off buying on the resale market. There should be instructions in your paperwork on how to cancel. Follow them exactly as they are. Then research, whether that be Grand Islander, the HGVC system as a whole or another system that fits your needs. Then buy resale.

 

[geist1223]

As stated above you most likely bought into HVC/DRI with MAX. It it very hard to sell these. Also MAX does not transfer upon resell. And there are severe restrictions on the use of resell ccounts

 

[BingoBangoBongo]

Delete

 

[BingoBangoBongo]

You are correct. If the deed is 20,160 pts then it must be 2BR+ platinum season. This would put MFs at $2515.32 or $0.125/pt.

View attachment 121098

If it is a Platinum Deed, couldn't it be a 1BR Premier? I have one similar to this at Kings Land.

 

[GT75]

Just purchased a trust in the Hawaii collection but stin have a few days to recind (sp?)
Any advice would be greatly appreciated.

Rescind immediately because you can purchase HVC trust points in the HI collection for free on the resale market. I wouldn't suggest purchasing anyway.

 

[dioxide45]

I am interested in buying resale. Know virtually nothing about it. Just purchased a trust in the Hawaii collection but stin have a few days to recind (sp?)
Any advice would be greatly appreciated.

That really only gives you the ability to directly book Point at Poipu and Kaanapali Beach Club through the HVC Hawaii Collection. There are a number of other mainland resorts that were added to that collection. The only way you can book the HGVC resorts with Hawaii Collection is by using HGV Max at 7 months and we don't have a good idea of what inventory is like Rescind!

 

[Monkeyboy]

I am interested in buying resale. Know virtually nothing about it. Just purchased a trust in the Hawaii collection but stin have a few days to recind (sp?)
Any advice would be greatly appreciated.

Welcome to Tug, save yourself 20K and recind. You can buy 4 weeks or so worth.