New Timeshares At Waikoloa

[Rancher]

Well not new exactly but they have started the conversion of the north tower of the Hilton hotel. While this news had been reported quite a while ago they have now started the work. The person I talked to did not know how many units they would end up with or when the work would be completed but everyone seemed happy that work had begun.

Dennis

 

[Helios]

Cool. I'll be there in mid July and will report on progress...

 

[GregT]

All,

This is what I believe the points chart will be. Interesting to see.

I love this property and will be there next month - I will try to set up a tour to figure out pricing and phases.

Best,

Greg

—————————-

Platinum points (same weeks as current Platinum season)

Studio Standard - 3,400
Studio Premier (Ocean View) -- 9,300

1BR Standard -- 4,800
1BR Plus Standard (Partial OV) - 7,200
1BR Premier Standard (OV) - 9,300

1BR Large -- 7,200
1BR Plus Large (Partial OV) - 9,300
1BR Premier Large (OV) -- 16,800

2BR Standard - 10,500
2BR Premier (Luxury Ocean) - 19,200

2BR Penthouse - 17,500
2BR Penthouse Plus (Partial OV) - 21,000
2BR Penthouse Premier (OV) - 24,000

3BR Plus (Partial OV) -- 23,000
3BR Penthouse Premier (OV) - 28,750

 

[linsj]

Platinum points (same weeks as current Platinum season)

Studio Standard - 3,400
Studio Premier (Ocean View) -- 9,300

1BR Standard -- 4,800
1BR Plus Standard (Partial OV) - 7,200
1BR Premier Standard (OV) - 9,300

I'm sure the studio and one bedroom won't be the same number of points.

 

[GregT]

I'm sure the studio and one bedroom won't be the same number of points.

I’ll take the bet if you’re offering....

 

[Ralph Sir Edward]

Amazing point values, if they work out that way. (Amazingly high...)

 

[PamMo]

!!!!!! Wow, Greg, those are high point values! I sure hope you're wrong.

 

[alwysonvac]

Don’t forget the high point values at the new Grand Islander Tower which opened last year @ HHV.

For the Grand Islander in Platinum Season

• one bedroom ranges from 7,200 Points (resort view) to 16,800 Points (premier)
• two bedroom ranges from 8,400 Points (resort view) to 19,200 Points (premier)
  
• Penthouse ranges from 17,500 Points (two bdrm) to 28,750 Points (three bdrm)

 

[Mosescan]

These new point values are the reason that I substantially increased my point holdings this year. I wanted to make sure that I had enough for 2 weeks in a 2 BR during platinum. While that is only 14000 points in the older units, as noted above, it can be substantially higher in the newer units. the advantage is that if you have the points then you can get into the higher point units on much shorter notice, but the downside is that the lower units like Lagoon tower are booked up far out and make it hard to do a short notice trip if you don't have a substantial number of points. We did 2 weeks in the lagoon tower last March break and I booked on 6 weeks notice. Because I only had a 5000 point unit I ended up using all 5000 points and about $1000 cash for 5 open season nights. I think we ended up staying in 4 or 5 different units over the course of two weeks as there was no single block available. Despite the pain in the butt of moving so much, we still enjoyed our 2 weeks at HHV. We'll be at Kingsland in April for the first time so I will be interested to see these new units.

 

[CalGalTraveler]

I am curious about the maintenance fees on these units. If some of the high point units have low MF it might be worth trading up when they go resale and fall back to earth in a few years.

Even with such a trade, I doubt we would be staying there with such high point requirements. It appears that HGVC is creating points inflation with newer projects.

 

[GT75]

I love this property and will be there next month - I will try to set up a tour to figure out pricing and phases.

See if you can also get the initial construction MFs for this property. I know that it will be initially low (based upon what HGVC has done at other properties during construction) but it will give us an idea.

 

[rabmsn]

Here's a picture from the inside taken yesterday:

Lots of walking detours and noise on weekdays.

 

[CalGalTraveler]

Don’t forget the high point values at the new Grand Islander Tower which opened last year @ HHV.

For the Grand Islander in Platinum Season

• one bedroom ranges from 7,200 Points (resort view) to 16,800 Points (premier)
• two bedroom ranges from 8,400 Points (resort view) to 19,200 Points (premier)
  
• Penthouse ranges from 17,500 Points (two bdrm) to 28,750 Points (three bdrm)

View attachment 5443

It would be nice if we could get all the associated maintenance fees with these GI units and eventually Waikoloa so we can compare MF/$ on each type of unit. I know we have a few data points but not the complete picture.

 

[Mosescan]

It would be nice if we could get all the associated maintenance fees with these GI units and eventually Waikoloa so we can compare MF/$ on each type of unit. I know we have a few data points but not the complete picture.

For sure. Although Maint fees tend to stay the same across seasons in the same unit type, they are not always the same across room levels. I'm very curious about the maint fees on that 16800 point 1 BR Premiere Luxury at the GI. I'm guessing the sales staff will be pushing the fact that you can get elite status with one purchase. Not worth it at developer prices but may be worth purchasing resale for the maint fee/point ratio.

 

[SmithOp]

We don’t have a data point on maint fees for a hotel conversion. There isn’t anything for Las Palmeras. It will be interesting to compare to purpose built timeshare resort. I’m wondering how they will determine the percentage the new owners will pay because it must be very expensive to run that whole operation with the monorail and boats, all the pools, etc.


Sent from my iPad using Tapatalk Pro

 

[alwysonvac]

We don’t have a data point on maint fees for a hotel conversion.

Not sure if it helps what you're trying to do but Kalia Tower was a hotel conversion.
It originally opened as a hotel tower at HHV. After the mold issue/lawsuit, they converted several floors to timeshares so now it's a mixed tower.
https://www.bizjournals.com/pacific/stories/2003/09/01/daily5.html

NOTE: HHV is a mixed use property with timeshare and hotel rooms.

 

[alwysonvac]

It would be nice if we could get all the associated maintenance fees with these GI units and eventually Waikoloa so we can compare MF/$ on each type of unit. I know we have a few data points but not the complete picture.

Syed has GI MF posted on his website - https://advantagevacation.com/hilton-grand-vacations-grand-islander-2017-maintenance-fees/

 

[CalGalTraveler]

Thanks @alwysonvac for finding this GI nugget from Syed. (He's an awesome resource.)

For GI, if all the one bedrooms and two bedroom standards have the same MF for the week regardless of "luxury" or "premier" then a back of the envelope calculation of MF per point yields:

• 1 Bedroom (standard sizes except Penthouse units, excludes club dues and ARDA)

$1,213 / 16,800 points Luxury Plat = $ .0722 MF/point
$1,213 / 12,600 points OV Premier Plat = $ .0963 MF/point​

• 2 Bedroom (standard sizes except Penthouse units, excludes club dues and ARDA)

$1,615 / 19,200 Luxury Plat = $ .0841 MF/point
$1,615/ 14,400 Premier Plat = $ .1122 MF/point
$1,615/ 12,600 Partial OV Plat = $ .1282 MF/point​

The spreadsheet brigade could work out gold season values and other options which may be attractive. Hopefully the resale buy-in price will come down over time so these could be a good option to consolidate. Might also be worth saving money for the next economic downturn because people will sell these onto the market like hotcakes.

 

[Cyberc]

Hi guys

I’m unsure whether or not these are the ones you are looking for.

 

[CalGalTraveler]

I got a call from HGVC rep about the Ocean Tower being released. I did not have much time to talk because I have work deadlines. But here is what I picked up:

a) Limited release of 2BDRM Penthouse Partial OV: "pre-construction pricing" $130,000. Rep said it will increase in a few weeks when fully released (but who knows?) MF $1770 or .0843/point for 21,000 points. I don't know how much the MF is subsidized but that's a good ratio.
b) Expected to open in early 2019
c) 1 Bedroom and other OV units not available yet.

 

[Ralph Sir Edward]

Amazing. Consider. . . For $130,000, one could 2 Bay Club Penthouses (after market), and pay the difference in maintenance fees for 60 years or so. . .

(Bay Club is between ocean Tower and Kingsland.)

 

[vacationtime1]

Amazing. Consider. . . For $130,000, one could 2 Bay Club Penthouses (after market), and pay the difference in maintenance fees for 60 years or so. . .

(Bay Club is between ocean Tower and Kingsland.)

For $130,000, one could invest the money and use the income to rent two bedroom OF units forever.

And still have the $130,000.

 

[Ralph Sir Edward]

Or more. . .

 

[CalGalTraveler]

For $130,000, one could invest the money and use the income to rent two bedroom OF units forever.

And still have the $130,000.

Great point! And this was not even an OF unit. When prices get to this kind of level, I start thinking of using such money as a down payment on a small condo which is VRBOed when we don't use it.

However, we own a second home and it is a lot of work, risk, and expense. Every time we go there all we do is fix things; renting sounds good because I just want to go on vacation and not worry about it!

 

[1Kflyerguy]

Yes, too rich a price for a timeshare for me. I love the Waikaloa area, and even though about buying a condo there. But like CalGal said, lots of upkeep and hassles renting it out long distance.