KBV: The Truth Please

[DeniseM]

@Neelhon - We don't know. There has been no announcement from the board. Please go back to the beginning and read through this thread for all the info that we know at this time.

 

[Neelhon]

@Neelhon - We don't know. There has been no announcement from the board. Please go back to the beginning and read through this thread for all the info that we know at this time.

Thanks. I have read everything but needed uptodate info. Sounds like there isn’t any new word.

 

[DeniseM]

There hasn't been any update. My guess is that due to the lawsuit by the full-time owners against the board/Wyndham, they are unwilling to say anything that might be use against them.

 

[schreff]

What is the cost of the special assessment? And will there by multiple special assessments? Is there a possibility they will just demolish the building and start over?

I haven't heard and my communications to all parties including Wyndham Management, Wyndham Destinations, and the HOA have gone unanswered. I thought perhaps someone had more success had an update. Please look at the prior posts as there is a great deal of valuable historic information concerning the past. We are away for the winter but to the best of my knowledge the amount of the special single or multiple special assessments has not been voted on and I have not heard if this could be the beginning of the end of KBV.

 

[schreff]

There hasn't been any update. My guess is that due to the lawsuit by the full-time owners against the board/Wyndham, they are unwilling to say anything that might be use against them.

Thanks and this sounds like it may be the reason but the truth is this is unfair to those who have paid their maintenance fees for 2023. Is this putting good money after bad future decisions by the Board? Is this fair to those owners who have not paid and let their timeshare go into foreclosure thus losing their investment into KBV? Lastly, do you know the case number of the legal action taken by the full-time owners and/or the status of that legal action? Thank you

 

[DeniseM]

@schreff - I don't know anything that isn't in this thread.

As far as it being unfair to 2023 owner: The resort is open, and you can make a 2023 reservation and go stay there. In fact, there is a Tugger there now (or there was last week.)

I understand that some people may have stopped paying their maintenance fee, and I understand why. But at this point in time, with the resort open, and zero information on the final resolution of the situation - that was probably premature, IMNSHO.

KBV is not an investment - even ocean front deeds have been given away there for years. It has no resale value.

 

[jacknsara]

@schreff - I don't know anything that isn't in this thread.

As far as it being unfair to 2023 owner: The resort is open, and you can make a 2023 reservation and go stay there. In fact, there is a Tugger there now (or there was last week.)

I understand that some people may have stopped paying their maintenance fee, and I understand why. But at this point in time, with the resort open, and zero information on the final resolution of the situation - that was probably premature, IMNSHO.

KBV is not an investment - even ocean front deeds have been given away there for years. It has no resale value.

Aloha,
We're still on Kauai but at the Shearwater. We fly to CA tomorrow to visit w/ daughter & granddaughter before returning home. I plan to compare Wyndham ownership number from prior audits to the 2021 once at home and then post here.
The resort is open. We observed nothing that might be considered an improvement to owner experience from 2022 with the potential exception of VIP reservation services which handled our last minute schedule changes with aloha (original schedule impacted by emergent need for outpatient surgery)
Jack

 

[schreff]

Aloha,
We're still on Kauai but at the Shearwater. We fly to CA tomorrow to visit w/ daughter & granddaughter before returning home. I plan to compare Wyndham ownership number from prior audits to the 2021 once at home and then post here.
The resort is open. We observed nothing that might be considered an improvement to owner experience from 2022 with the potential exception of VIP reservation services which handled our last minute schedule changes with aloha (original schedule impacted by emergent need for outpatient surgery)
Jack

Is KBV audited by a CPA firm? If so, by whom and where are the complete audits available. As an owner, I have been asking for the full audits for about a year. Thank you.

 

[schreff]

@schreff - I don't know anything that isn't in this thread.

As far as it being unfair to 2023 owner: The resort is open, and you can make a 2023 reservation and go stay there. In fact, there is a Tugger there now (or there was last week.)

I understand that some people may have stopped paying their maintenance fee, and I understand why. But at this point in time, with the resort open, and zero information on the final resolution of the situation - that was probably premature, IMNSHO.

KBV is not an investment - even ocean front deeds have been given away there for years. It has no resale value.

I agree with most of your post but again feel it is unfair to those who have paid their maintenance fees and will then not be able to afford an astronomical special assessment. Yes, perhaps they will be able to use their week but what if the resort goes into bankruptcy abruptly? Then, all is lost. As far as looking at any timeshare as a financial investment you are right but timeshares certainly have future value, if not why use your hard earned dollars to purchase them? When your timeshare no longer exists, you don't have the ability to use what you once paid for. We just experienced that with Wyndham when Wyndham Fairfield Plantation Tara III went belly up. It's been a bad year for our timeshare ownerships.

 

[bnoble]

I understand that some people may have stopped paying their maintenance fee, and I understand why. But at this point in time, with the resort open, and zero information on the final resolution of the situation - that was probably premature, IMNSHO.

KBV is not an investment - even ocean front deeds have been given away there for years. It has no resale value.

This has been my take. Until and unless I get a bill, it is business as usual. Everything up to that point is speculative. If and when we do get a bill, we'll make a decision.

I can imagine several different possible futures, but most of them end with at least the IOA insolvent and needing to liquidate, if not the AOAO. But, in the words of Lloyd Christmas: "So you're telling me there's a chance."

And Denise is right--even the oceanfront weeks haven't had any tangible resale value for a long time.

 

[schreff]

Still have heard nothing from Wyndham, the HOA or KBW's manager about my pending requests for audits, the updated projected amount of the special assessment and the action or inaction Wyndham and the Board are considering. Silence isn't golden on the beautiful island of Kauai.

 

[John3825]

I've requested further info about this timeshare. No response.

I would be happy to testify/ join a class action lawsuit.

This seems wrong for many reasons.
John

 

[jacknsara]

Is KBV audited by a CPA firm? If so, by whom and where are the complete audits available. As an owner, I have been asking for the full audits for about a year. Thank you.

Aloha,
2021 audit was placed on the owners community website as I mentioned in https://tugbbs.com/forums/threads/kbv-the-truth-please.347376/post-2906646
I'm guessing that 2022 audit is +/- a few weeks away.
I have older audits in print. Hope to get to them this weekend.
Jack

 

[schreff]

Thank you very much.

 

[schreff]

Aloha,
While the weather has been rainy, blustery with occasional downpours, we remain able to use the lanai so I haven't taken the time to report. Today I receive the audit report and confirmed that it has been posted on the owners website as I requested.
The 2021 audit report is now posted at https://kauaibeachvillasresort.com/owners-community/communications/
The password was included in paperwork with the 2023 MFs.
There are a few people occupying wholly owned units in buildings G and H. Don't know any more about it than that.
The original soffits of F, G & H have been removed and are lined with what appears to be thick plastic sheets held up by furring strips. Strong winds make them thump loudly. Not sure how we would react if we were on third floor instead of second.
More when we're trapped inside or when we get home in a few weeks.
Jack

I cannot get into the community site thus no audit available. The site automatically asks for my password which is no longer working????

 

[Jonbet96]

I cannot get into the community site thus no audit available. The site automatically asks for my password which is no longer working????

I had the same issue today!

 

[tl_traveler]

I cannot get into the community site thus no audit available. The site automatically asks for my password which is no longer working????

The site at https://kauaibeachvillasresort.com/owners-community/communications/

I can login just fine. You might need to trigger a password reset.

 

[bnoble]

There is a single password that is used by all owners for access to the documents. If you no longer have it, I am sure if you call the resort they will share it with you after verifying your ownership.

 

[jacknsara]

There is a single password that is used by all owners for access to the documents. If you no longer have it, I am sure if you call the resort they will share it with you after verifying your ownership.

The password is listed near the bottom of the front sheet with the budget on the back included with the 2023 MF bill. Its the last "word" in the second to last paragraph. I do not see it in the prior year's paperwork. If you no longer have that paper or only own even year units, then I suggest following bnoble's suggestion to get the password.

 

[schreff]

I can't get a thing from Wyndham (Michael Brown's assistant), the BOD, or Wyndham KBV management. IMHO, this is maze contrived for the specific purpose of hiding the truth from owners for the benefit of a few.
Was there a meeting? I have received no notification from Wyndham after the cancellation.

 

[John3825]

@schreff I saw a notice saying the meeting was postponed with NO info regarding a new date.
I've tried requesting info from the same sources as you and including the onsite RCI rep also. No info provided. I've requested "our" secretary contact me with info as to Why my one week every odd year maintenance fee is ridiculously expensive. I can book a week at a Marriott cheaper, and have even booked an Air BnB at KBV for a week 3 yrs ago less expensively then my maintenance fee. That's sure a punch in the gut!
This year, I paid 3/4 of my maintenance fee and of course received a late notice and threat of legal action. I called Wyndham and explained my position that until I recieve a Detailed breakdown of costs they could just chill (actually my words were a bit harsher).

Who amongst us is a lawyer, or has access to a Class Action lawyer willing to look at this fiasco? I'm totally open to sharing my experience in hopes of some sort of fix to our issues??

 

[CO skier]

Who amongst us is a lawyer, or has access to a Class Action lawyer willing to look at this fiasco? I'm totally open to sharing my experience in hopes of some sort of fix to our issues??

Anyone who has access to the internet has access to a "Class Action lawyer". Why do you not lead the charge to fix whatever issues?

Funny how every post in social media calling for a class action lawsuit always involves "someone else" initiating (and paying) for the lawsuit.

 

[geist1223]

In a Class Action who would be the defendants? What would be the issues? The mistakes and building defects happened decades ago.

 

[bianchicycle]

The time for a law suit is far behind us now. What we need is an avenue to get rid of our weeks and move on. Whoever gets the property may build something wonderful and we would come back as individuals and not owners.

 

[tango]

I’m going to show my ignorance, and admit that I don’t really know what the rights and responsibilities are of the parties involved. As I understand it, I own a condo deed, which many describe as the air within a building unit for a specified period of time recurrently. But who else owns the rest? I did some research and it suggested that in the usual case the buildings, land and property are jointly owned by all the condo owners. Was it my misconception that Wyndham owned the land and the buildings? Certainly, Wyndham does own a number of condo deeds, and maybe even a majority, but still is an owner just like us only bigger. On the other hand, there are various boards involved in making management decisions for the whole property. It seems that Wyndham has managed to place board members it wants on some of the boards so do have a controlling interest. Also Wyndham is the property manager, and it seems this occured because it wanted to be. So, like any group venture, by buying a condo, you throw your hat into a ring with a bunch of other people with benefits of such an arrangement, but also the problems when the majority’s interest does not align with the individuals. At any rate, when there is talk about lawsuits, and unresponsiveness, and lack of openness, I have to wonder whether it is largely incompetence (lack of direction) or deviousness or many separate parties with their own interests. I guess the suspicion is that with a big problem of faulty construction, that Wyndham would try to foist the remedial costs onto us. Or could it be that the costs of remediation is born by all in proportion to their ownership, in which Wyndham’s share would be proportional to their ownership share. Even if that is the case, remediation is not something I want to afford.