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Since I posted this , I have been keeping an eye out for the right thing and a few months ago, I purchased an EOY Marriott Ocean view from Ebay for $8,700 including closing costs. Six weeks after purchase, I was getting the run around and still had not heard whether Marriott waived ROFR. So I ended up calling Marriott directly and found out my contract had never been submitted:annoyed: I requested my money back and decided to pay more, forget Ebay and do it through a broker. Just found out through Syed that our EOY oceanfront offer of 12k was approved and will be submitted for ROFR. I will keep you posted but am optimistic
Is this a 1BR or 2BR unit? $12k seems high for a 1BR unit, and possibly low for a 2BR unit based solely on the results in ROFR.net. Either way, good luck with it and reply back once you hear back.
I see. Well I guess the rarity is what accounts for the price then.
The EOY is a must for us as we will not go every year from the East Coast.
I was not prepared to spend $20k for it though
Though I got cheap and bought a voluntary versus a mandatory Starwood and ended up regretting that decision. Maybe I should just bite the bullet...
I think $12k for EOY 2BDRM OF is a good price in today's market but you do get so much more bang for your buck with annual usage. A 2BDRM OF MOC may be one of the best rental properties on the market when comparing MFs to rental price. The profit is a min of $1500 and usually more like $1700. The only thing that is close is a MOW plat OF and that is because MFs are cheaper.
I see a 2BDRM OF for $19.5k which is a very good price for an annual. If that comes with a good week to rent then it can become a great deal.
It looks like they are looking at an EOY because of location/travel considerations. If that's the case, I'd recommend getting two of them for the same even or odd year. They may not be able to do it right away financially, but it will give them the ability to reserve 13+ months out, which makes a big difference on getting your room preference. Although ours are OFs, the times we've used our daughters OV, it was a great location. Also, 7 days on Maui is not enough. Gotta have at least 10 days. Something to think about...
We chose an EOY 2BR OV unit (on top of the EOY 1BR OV that we already owned) at MMO for two reasons: 1) the price difference was significant, and 2) the fact that there are significantly more OV units than OF units should make it easier for us to book whenever we wanted to. I swear I posted the exact number of units for each view a while back, but can't seem to find it.
We chose an EOY 2BR OV unit (on top of the EOY 1BR OV that we already owned) at MMO for two reasons: 1) the price difference was significant, and 2) the fact that there are significantly more OV units than OF units should make it easier for us to book whenever we wanted to. I swear I posted the exact number of units for each view a while back, but can't seem to find it.
This is an interesting point. Like the OP, we are giving some thought to acquiring an EOY week at MOC. From 1992-2011 we averaged going to Maui every 2-3 years. Haven't been since then because our high school/college age kids can't easily take friends with them on a trip that far. But our youngest will be heading to college next fall, so my wife and I are thinking about getting back into an EOY Maui rhythm, probably starting in winter 2019. To facilitate that, we may acquire an EOY Odd week sometime in 2017 so we can be ready by early 2018 to reserve something for early 2019.
My thinking has been directed toward acquiring an EOY 1BR OF because the prices for 1BR OF are not that much higher than 1BR OV, but your comment about the limited 1BR OF inventory makes me wonder if reserving a week in January/February in an OF might be tough. Anyone have any opinions about 1BR OV vs 1BR OF at MOC? The price differential is minimal; the maintenance fees are the same; but if it's a lot tougher to book OF, that could be a factor to consider. Along that same line, I have read posts about folks who are having difficulty booking MOC in Jan/Feb with weeks. IS that hard to do at the 12-month mark?
Additionally, since the kids will be more or less out of the nest by then, we're leaning towards a 1BR instead of 2BR given the huge price differential ($5K to 7K for 1BR EOY vs. $14K to $17 K for 2BR EOY). Does anyone have a different view on the 1BR vs. 2BR choice? Is there some advantage to the 2BR that I haven't considered?
Found what I was looking for, though my memory was completely backwards, as there are more 2BR OF units than there are 2BR OV:
Unit numbers per view
Code:
Molokai Lanai
1BR OV | 81 | 11
1BR OF | 13 | 5
2BR OV | 11 | 22
2BR OF | 20 | 28
Another reason we went with a 2BR is that it has more renting power, and can be used in consecutive weeks if you're fine with a studio for one of them. We paid $8k for our EOY 2BR OV, FWIW.
12k is for a two bedroom ocean front original towers. I would have been ok with buying ocean view since I think unlike at the Westin, you are much more likely to get a good view of the ocean at the Marriott but this is what Syed found and I am happy to pay a few thousand dollars more for a chance to "spit in the ocean" as someone put it
I like the idea of two EOYs but I also have my Hilton and if ever they finish that property, I like the idea of spending a week in Kihei and a week in Lahaina.
I think $12k for EOY 2BDRM OF is a good price in today's market but you do get so much more bang for your buck with annual usage. A 2BDRM OF MOC may be one of the best rental properties on the market when comparing MFs to rental price.
Yes, they are definitely a better deal than EOY and I passed up on quite a few because I just can't see myself dealing with renting. I sold our Hyatt because we had too many points and it seemed like every time I turned around more points showed up in my account! i am hoping EOY will be just right since our Hilton is also an EOY odd.
I am struggling with the same sort of thing right now. I only need a EOY, but there are not as many out there (new towers), or they can be as expensive as an annual in a lesser view category. I know I won't use it more than EOY, but if for some reason I miss my EOY use because I have some other place to be, then it will be another 2 years until I can go back to Maui and that is just too long to be away!
From a budget standpoint, the EOY is better too, but it seems like there are better deals on annual overall. I guess I will figure it out when the right deal comes along.
Found what I was looking for, though my memory was completely backwards, as there are more 2BR OF units than there are 2BR OV:
Unit numbers per view
Code:
Molokai Lanai
1BR OV | 81 | 11
1BR OF | 13 | 5
2BR OV | 11 | 22
2BR OF | 20 | 28
Another reason we went with a 2BR is that it has more renting power, and can be used in consecutive weeks if you're fine with a studio for one of them. We paid $8k for our EOY 2BR OV, FWIW.
That large 92 OV vs. 18 OF differential for 1BR reiterates my question in post #33 above. How hard would it be to reserve a 1BR OF vs. a 1BR OV in the peak Jan/Feb time frame? The differential also explains why Marriott Resales always seem to have 1BR EOY OV but I rarely see 1BR EOY OF.
Clearly there's more 2BR OF units, but I have difficulty justifying the huge price differential between 1BR and 2BR, since our kids will be out of the nest by the time we would own anything. The 2BR maintenance fee isn't that much more than 1BR, but somewhere around $7,300 for 1BR EOY OF vs. $17,700 for 2BR EOY OF is a huge difference and really stretches out the breakeven point. Those are Marriott Resales prices. Third-Party brokers usually seem a little less for each - around $6,000 for 1BR EOY OF and $15,000 for 2BR EOY OF. Still a big difference.
That large 92 OV vs. 18 OF differential for 1BR reiterates my question in post #33 above. How hard would it be to reserve a 1BR OF vs. a 1BR OV in the peak Jan/Feb time frame? The differential also explains why Marriott Resales always seem to have 1BR EOY OV but I rarely see 1BR EOY OF.
Clearly there's more 2BR OF units, but I have difficulty justifying the huge price differential between 1BR and 2BR, since our kids will be out of the nest by the time we would own anything. The 2BR maintenance fee isn't that much more than 1BR, but somewhere around $7,300 for 1BR EOY OF vs. $17,700 for 2BR EOY OF is a huge difference and really stretches out the breakeven point. Those are Marriott Resales prices. Third-Party brokers usually seem a little less for each - around $6,000 for 1BR EOY OF and $15,000 for 2BR EOY OF. Still a big difference.
I'm interested to hear what others have to say about that, as well. After going through old e-mail between myself and my wife, the EOY 2BR OV unit was the compromise when deciding to purchase a second unit. She originally was okay with a 1BR OF unit, while I wanted the 2BR OF unit.
I had been tracking prices of all four EOY types for more than one year, and these are the ranges I have found (on all resale sites):
1BR OV - $3500-$4500
1BR OF - $6000-$7500
2BR OV - $7500-$10,000
2BR OF - $13,000-$16,000 (this new $12k unit is the lowest I have ever seen)
Keep in mind that this doesn't mean that those low figures passed ROFR.
I'm interested to hear what others have to say about that, as well. After going through old e-mail between myself and my wife, the EOY 2BR OV unit was the compromise when deciding to purchase a second unit. She originally was okay with a 1BR OF unit, while I wanted the 2BR OF unit.
I had been tracking prices of all four EOY types for more than one year, and these are the ranges I have found (on all resale sites):
1BR OV - $3500-$4500
1BR OF - $7500-$10,000
2BR OV - $7500-$10,000
2BR OF - $13,000-$16,000 (this new $12k unit is the lowest I have ever seen)
Keep in mind that this doesn't mean that those low figures passed ROFR.
For now, I'm focusing mainly on Marriott Resales prices since our goal is to buy a week that we can enroll - hopefully by only purchasing a minimal amount of Trust Points. My hope is since they were enrolling EY weeks this past summer with a 3000 point purchase, they might enroll an EOY week with a minimum 1500 point purchase. Marriott Resales prices are:
1BR OV - $7000
1BR OF - ??? - but based on view price differential for 2BR units - maybe $7,300(?)
2BR OV - $17,100
2BR OF - $17,700
We'll probably do a presentation when we're in Hilton Head next April and explore our options. If Marriott won't offer something we can live with, we'll look at third-party resellers.
Ah, gotcha. The price difference between Marriott's resale department and 3rd party were just too far off for us (double in price), but points never factored into our equation.
I think the 1BR OF prices in your list may be high. Samuel Rodriguez has EOY Odd and Even 1BR OF units listed on Redweek right now for $5900. The others look reasonable for third-party brokers. Interesting that Marriott Resales' price of $17,700 is reasonably competitive for EOY 2BR OF. They have no EOY 1BR OF listed on their site right now, but if the differential between EOY 1BR OV and EOY 1BR OF is small (as is the case with the 2BR category), then Marriott Resales price of $7,000 for a 1BR OV would mean that their price for a 1BR OF might be competitive as well. But Marriott's OV prices are well above the third-party brokers.
I think the 1BR OF prices in your list may be high. Samuel Rodriguez has EOY Odd and Even 1BR OF units listed on Redweek right now for $5900. The others look reasonable for third-party brokers. Interesting that Marriott Resales' price of $17,700 is reasonably competitive for EOY 2BR OF. They have no EOY 1BR OF listed on their site right now, but if the differential between EOY 1BR OV and EOY 1BR OF is small (as is the case with the 2BR category), then Marriott Resales price of $7,000 for a 1BR OV would mean that their price for a 1BR OF might be competitive as well. But Marriott's OV prices are well above the third-party brokers.
The biggest issue I saw with the 1BR OF units was the sheer lack of availability compared to the others. Sure, there are 18 units, but 7 of them are 4th floor or lower, which I'm not a fan of.
The biggest issue I saw with the 1BR OF units was the sheer lack of availability compared to the others. Sure, there are 18 units, but 7 of them are 4th floor or lower, which I'm not a fan of.
Marriott Resales prices are:
1BR OV - $7000
1BR OF - ??? - but based on view price differential for 2BR units - maybe $7,300(?)
2BR OV - $17,100
2BR OF - $17,700
What gets me on these numbers is that Marriott only has a $600 difference between OV and OF, but it is thousands of dollars difference on the resale market. Just seems odd to me that it works out that way. I guess it is the market speaking that people are willing to pay a bigger premium than Marriott thought for OF?
I want to say that the 4th floor is just above the tree line, but you don't have a terrific view of the beach. I prefer higher floors not only for the view, but also because it's quieter the higher you get.
What gets me on these numbers is that Marriott only has a $600 difference between OV and OF, but it is thousands of dollars difference on the resale market. Just seems odd to me that it works out that way. I guess it is the market speaking that people are willing to pay a bigger premium than Marriott thought for OF?
I agree. As I said in post #42, Marriott is sorta competitive price-wise for the EOY OF units (assuming my guess on their EOY 1BR OF price is close). Their prices are a bit higher, but not grossly so. But Marriott clearly puts a higher valuation on the OV units than the third-party market does. Their prices on OV units are almost double the external market.
The biggest issue I saw with the 1BR OF units was the sheer lack of availability compared to the others. Sure, there are 18 units, but 7 of them are 4th floor or lower, which I'm not a fan of.
So with only 11 1BR OF units 5th floor or above, do you as a current owner know how MOC handles room assignments between owners? Given that I would think most people would request a high floor, how does MOC determine for any given week, which owners get the high floor and who gets stuck with the low floors?
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