relative offering one her hawaii starwood timeshare for free

[picchu]

I just found this website and have been reading the Starwood Forum and Buying, Selling and Renting. I'm a newbie and never considered owning a timeshare before. A relative can no longer afford her 3 starwood timeshares (2 at westin princeville, 1 westin Ka'anapali) and is offering one of them to my family of 4 for free. How do I evaluate her offer? Which resort is better to own at?
I'm overwhelmed with all the information. Any help to focus my analysis to decide if its a good offer would be helpful
Thanks!

 

[DeniseM]

The Westin Ka'anapali weeks have resale value - varies depending on the view.

I would pass on the Westin Princeville;

-Little resale value
-High maintenance fees
-Lower demand as a rental

If they aren't paid off, and have significant mortgages, I wouldn't take any of them.

 

[JudyS]

Ditto what Denise said.

Can someone here tell me if Westin Ka'anapali has ROFR? (Right of first refusal.) If so, which relatives are exempt from ROFR?

 

[tschwa2]

I believe if you gift a timeshare vs selling it for $1 or $10 or what have you that ROFR does not apply. My understanding is that ROFR applies when you enter into an agreement to buy/sell a timeshare. I would double check this with your closing agent.

 

[presley]

A relative can no longer afford her 3 starwood timeshares (2 at westin princeville, 1 westin Ka'anapali) and is offering one of them to my family of 4 for free. How do I evaluate her offer? Which resort is better to own at?

Did you want a timeshare? Or, are you just now considering it because you can get it for free? Hawaii timeshares are expensive to own and can be a bummer if you can't afford to visit there because of travel costs, etc.

There are tons of timeshares being given away for free here, if that is your goal. If you want to stay in Hawaii every year and can afford the annual fees and travel to get there, get one from your relative. People like the Maui one. For some reason, people don't like the Kaui one so much. I think it is because it is in a very rainy part of the island.

 

[LannyPC]

Any help to focus my analysis to decide if its a good offer would be helpful.

I would start by focusing on your travel plans (present and future). Ask yourself such questions as Can I see myself/family traveling to this spot each year? Can I afford the annual maintenance fees? Can I afford the peripheral costs of traveling such as airfare, transportation within Hawaii, activities, higher costs of food, etc.? If motels/hotels in the area are cheaper on a per-night basis, am I willing to bundle up in a motel/hotel to save a few bucks per night?

Are you intrigued by the idea of exchanging? If so, buying a TS in Hawaii might get you good trading power but it is also not very cost effective because of the high MFs in Hawaii. Add to that the exchange fees and membership fees (if you use RCI or II) and you will probably find that you would be better off renting in places you actually want to go.

Anyway, I'm glad you found TUG to do some research before taking the TS plunge.

 

[LannyPC]

A side point that I should add. If your relative cannot find a taker for her TSs from among friends and relatives, I would encourage her to join TUG. Here on TUG there is a Bargain Deals section:

http://tugbbs.com/forums/forumdisplay.php?f=55

where she can advertise for free that she wants to give her unit(s) away. She just might find a taker there.