Marriott Maui Ocean Club week 52 [MERGED]

[MOXJO7282]

I'd wait unless you're very wealthy. I wouldn't spend that kind of money on a timeshare in this economy - not just because of what could happen to our jobs and accounts, but because the maintenance fees could rise much more quickly than inflation (read the thread about what's going on at Marriott's Aruba Ocean Club right now). That could happen anywhere.

The OP is obviously doing OK if he pays $5900 for a New Years week. And if that is his lifestyle, I say fanastic, because I bought into the MOC under a similar premise that I wanted to take my family during one of the highest demand week in the system, Pres week. Renting, like with the OP, was extremely high, so the better option was to own.

I don't know the Maui Marriott OF New Year market but I accept the OPs research that says $5900 is the going rate because as I said, I know the Pres week market and it is very strong as well.

Under that scenerio, the $53K may very well be a wise investment in your family's vacation costs. You don't see alot of OF, let alone NYear so I personally don't know if it is a good price.

Maui Marriott OF New Year resale are far and few between, so if it truly is a good deal I would purchase, because you won't see many of these. This is the type of week that will be somewhat immune to a huge price drop, if things continue to go south.

 

[MOXJO7282]

If you already have the price set, go for it. There is no better chance of passing ROFR than right now. I have a friend who recently passed ROFR on an oceanfront unit at the Marriott Ocean Club (floating week) at $17,000.

An annual 2BDRM OF at the Maui Marriott for $17000? There is no way Marriott even in this market would let that go through. I'd have to see proof on this. Why would anyone sell for $17k, when they could have easily gotten at least twice that. Either is was a relative selling to relative, or something else afoot, because ther is no way a annual 2BDRM OF at the Maui Marriott would sell for $17000 under any normal circumstances.

 

[m61376]

Just something to consider- and I don't know if it makes a difference to you or not- but if you are choosing new Year's week partly because of school vacations, double-check the week 52's for the next several years and make sure they coincide with the school calendar. For example, I know several people who bought week 51 in Aruba because of the school vacation schedule, yet this year and next week 52 is more of the vacation week.

That said, if you intend to regularly go to Maui week 52 and can afford the rental such as you are currently paying, then buying may not be a bad option. However, with that kind of cost I would also look into whether there is any availability and/or at what price for the newer towers, which have a full kitchen. Talk to a couple of the well respected resale agents mentioned here by others and get a feel for what the pricing should be; at least that's a start. They may be able to give you a better idea of whether or not this is a good price.

Ultimately, only you can decide if it is a good choice for you and your family. Even in this market, if you are paying a bit of a premium for the week and/or view that you really want, and it will give you pleasure, and you can afford it, then don't listen to anyone who tells you it's a bad decision. As posted above, there probably aren't that many OF week 52's out there so the current bargain pricing may not apply. Even if you are overpaying a little, it may be worth it to secure what you want.

 

[Latravel]

As a point of comparison for you, the price of a new 2 bed oceanview (not ocean front) that was NOT week 52 was offered to us by Marriott at $59,000. Just remember the maintenance fees in Hawaii are on the high side.

 

[Steel5Rings]

Deal or No Deal.


I say NO DEAL........with a little work I have been able to trade into MOC during the Christmas week with my Grande Vista Plat.

Believe you will find other MOC weeks for less as the market begins to balance out some more.

 

[DeniseM]

I am going to combine your threads, because you have 3 different threads going on the same purchase. You will get a better response that way, and not so much duplication of answers.

I just have 2 words of advice: s-l-o-w d-o-w-n...

That is way too much money for that week unless you intend to use it every single year, and then it's still too much money for one week! Hang around with us for awhile and see what other owners do with much less money.

 

[winger]

... Just remember the maintenance fees in Hawaii are on the high side.

and they keep rising, and rising, and rising and rising. Soon, if not already, the one week unit's M/F will cost more than the annual property tax on your primary shack (I mean, home) and guess what??? It will continue to keep rising and rising...

 

[m61376]

and they keep rising, and rising, and rising and rising. Soon, if not already, the one week unit's M/F will cost more than the annual property tax on your primary shack (I mean, home) and guess what??? It will continue to keep rising and rising...

I certainly hope that's a bit of an exaggeration - at least for those of us in high property tax states/areas.

But the point of high MF's in Hawaii is a good one, and Hawaii properties, in general should be bought primarily for use and not trading. Given the high purchase price here, I could only justify buying such a week if this was my intended yearly destination.

 

[Latravel]

Week 52 in Maui is a dream week. If you intend to use it, like most posters have said, go for it. Even though trading might not be the best use of the unit, it's really nice to know you could trade ANYWHERE if you wanted.

If my Shadow Ridge could get the Four Seasons sometimes, I can only wonder what types of trades you could get with week 52 in Maui. I think if the money is not too much for you, you could really enjoy your unit and the trades you could get.

 

[winger]

I certainly hope that's a bit of an exaggeration - at least for those of us in high property tax states/areas.

...

lets put it this way, i already know my neighbor's 2bd MOC annual MF is just a few dollars short of my other's friend's (he lives in Kentucky) property tax.

 

[MOXJO7282]

When I first purchased in 2003 MF was $990, 2009 MFs are now $1623. That's a big jump in 6 years. Even so, I still get tremendous value out of my Maui weeks. If the escalation of MF continues at that pace it will be tough for me to justify ownership, but I guess you could say that about any TS.

Also, I don't why most say Hawaii MFs make it hard to justify trading. That may be true for a non LO, but if you manage it correctly, you can split and trade up with MOC, and get two high value trades.

 

[winger]

When I first purchased in 2003 MF was $990, 2009 MFs are now $1623. That's a big jump in 6 years. Even so, I still get tremendous value out of my Maui weeks. If the escalation of MF continues at that pace it will be tough for me to justify ownership, but I guess you could say that about any TS.

Also, I don't why most say Hawaii MFs make it hard to justify trading. That may be true for a non LO, but if you manage it correctly, you can split and trade up with MOC, and get two high value trades.

correction, with this years Maui Ocean Club MF increase, one 2bd's annual MF IS MORE THAN my kentucky buddy's annual total property tax...and he lives in a pretty good size home.

 

[larue]

An annual 2BDRM OF at the Maui Marriott for $17000? There is no way Marriott even in this market would let that go through. I'd have to see proof on this. Why would anyone sell for $17k, when they could have easily gotten at least twice that. Either is was a relative selling to relative, or something else afoot, because ther is no way a annual 2BDRM OF at the Maui Marriott would sell for $17000 under any normal circumstances.

I am going on what he told me. He is a pretty good friend and has no basis for making it up, but I have to admit I did not ask him for a copy of the deed. As for "easily" getting twice that amount, guess again. There are a boatload of 2 bedroom oceanview lockouts at the Marriott property (not the Lahaina Villas) listed at below $33,000 that are not moving in this market. There are very few if any buyers on the secondary market willing to pay $33,000 for an oceanview 2 bedroom at the Marriott property, particularly given that the Lahaina Villas are now open and selling secondary market as well.

 

[Dean]

What a great idea! It should definitely pass Marriott's ROFR and Uncle Sam's IRS rule too and you will like the resort and certainly the location.

But likely not the State's Real Estate laws which normally make it illegal to put one price and actually charge another with the intent of defrauding a third party. I'm sure it's done all the time but it's not technically legal in most states, if not all.

 

[larue]

But likely not the State's Real Estate laws which normally make it illegal to put one price and actually charge another with the intent of defrauding a third party. I'm sure it's done all the time but it's not technically legal in most states, if not all.

As long as you dont make the sales price conditional upon uncle's generosity there would be no violation. The right to make a tax-free gift under IRS rules belongs to the uncle and he can gratuitously bestow it as he wishes. If the prospect of that possible gift makes the sale go through easier, that does not mean that there is fraud involved. It would depend on whether you connected the sales price with an obligation of uncle to later gift, but as long as you don't set the sales price up conditional upon that gift, it should be fine.

 

[taffy19]

But likely not the State's Real Estate laws which normally make it illegal to put one price and actually charge another with the intent of defrauding a third party. I'm sure it's done all the time but it's not technically legal in most states, if not all.

Well, I wouldn't feel guilty about it one little bit if I were him. Why would he let the Marriott steal that property away from him if his uncle would almost give it away to him? What happens if the uncle puts his relative's name on the deed already while he still owns it and removes it at a later date or just give it to him outright and forget the $1,000?

I agree now with John that you really don't have clear title to your timeshare deed if they have the ROFR and you can't even pass it on to your heirs without them grabbing it away.

Does Marriott have a way that family can sell or deed it to each other without them taking it away from you? That would be interesting to find out.

 

[Dean]

As long as you dont make the sales price conditional upon uncle's generosity there would be no violation. The right to make a tax-free gift under IRS rules belongs to the uncle and he can gratuitously bestow it as he wishes. If the prospect of that possible gift makes the sale go through easier, that does not mean that there is fraud involved. It would depend on whether you connected the sales price with an obligation of uncle to later gift, but as long as you don't set the sales price up conditional upon that gift, it should be fine.

My understanding is it's the intent that's the determining factor. If you put $10K but privately agree to a refund (no matter how it's worded), that would fall out as a problem for both the buyer and seller. Saying the price is $10K but you'll "give" me $5K wink, wink is a potential problem. As I noted, I'm sure it's done all the time. I also suspect the government has larger fish to fry. Still, I wouldn't take the chance with companies like Marriott and Disney who have well paid lawyers. As with most things, the devil would be in the details.

 

[Dean]

Well, I wouldn't feel guilty about it one little bit if I were him. Why would he let the Marriott steal that property away from him if his uncle would almost give it away to him? What happens if the uncle puts his relative's name on the deed already while he still owns it and removes it at a later date or just give it to him outright and forget the $1,000?

I agree now with John that you really don't have clear title to your timeshare deed if they have the ROFR and you can't even pass it on to your heirs without them grabbing it away.

Does Marriott have a way that family can sell or deed it to each other without them taking it away from you? That would be interesting to find out.

While I agree with the feelings, I can't get past the dishonesty of it. My understanding is it can be left to heirs or gifted to immediate family but I don't have access to my legal documents right now as I'm in ARUBA.

 

[MOXJO7282]

I am going on what he told me. He is a pretty good friend and has no basis for making it up, but I have to admit I did not ask him for a copy of the deed. As for "easily" getting twice that amount, guess again. There are a boatload of 2 bedroom oceanview lockouts at the Marriott property (not the Lahaina Villas) listed at below $33,000 that are not moving in this market. There are very few if any buyers on the secondary market willing to pay $33,000 for an oceanview 2 bedroom at the Marriott property, particularly given that the Lahaina Villas are now open and selling secondary market as well.

You said OF which would definitely sell even now for $33k or more, no question. As for the OV units, they seem to be holding their value as well. I haven't seen any on ebay that were sold at a low ball price. Mountain view units yes, but there has yet to be any real movement of OV units at prices below $30K, at least from what I've seen.