New Assessment
From what I've seen of the Imperial, and from reading the posts here, it appears there's a couple of serious issues affecting timeshare owners at this location.
1) It's obvious that management has not kept the building in first class condition over the years. They have done a great dis-service to the timeshare owners of this location.
2) With the land lease due to expire in 2012, it appears that the renewal will be considerably higher than in previous years, which is understandable. Prices do go up, especially in a resort area as popular as Waikiki.
3) Unless the building is totally remodeled to bring it up to the same standards as the newly renovated Beachwalk properties, the Imperial will not be worth what owners will be required to pay once the land lease is re-writtten.
4) Another option may be to offer to buy the land from the owner, but this will certainly increase costs to the owners as well.
5) Most of the problems associated with the Imperial seem to be that it sits on leased land that escalates in value. The timeshare owners are not realizing the benefits of this increased value, instead they are having to pay for it over time.
Dave L.
Last edited by dave122 on Mar 14, 2007 05:09 PM
emmettb4 wrote:I thought the lease was up in 2035 is it really 2012
From what I've read here, others are saying that the land lease is up for renewal in 2012.
That will make it very difficult to sell any Imperial timeshares, especially if the prospective buyers do their research.
Dave L.
From what I ahave read it is up 2012 with an option to renew for 40 years. They will renegotiate the rent every 10 years under the new lease. They claim to be still trying to purchase the property, which is probably true. The one thing they have in their favor in negotiation is that they hold the option. I wouldn't lose sleep over it. Given the improvements and the location upgrade. You may end up paying a lot more in maintenace fee, but the properties desirabilty should be much higher as well...
dave122 wrote:emmettb4 wrote:I thought the lease was up in 2035 is it really 2012From what I've read here, others are saying that the land lease is up for renewal in 2012.
That will make it very difficult to sell any Imperial timeshares, especially if the prospective buyers do their research.
Kristopher B.
rpklb wrote:From what I ahave read it is up 2012 with an option to renew for 40 years. They will renegotiate the rent every 10 years under the new lease. They claim to be still trying to purchase the property, which is probably true. The one thing they have in their favor in negotiation is that they hold the option. I wouldn't lose sleep over it. Given the improvements and the location upgrade. You may end up paying a lot more in maintenace fee, but the properties desirabilty should be much higher as well...dave122 wrote:emmettb4 wrote:I thought the lease was up in 2035 is it really 2012From what I've read here, others are saying that the land lease is up for renewal in 2012.
That will make it very difficult to sell any Imperial timeshares, especially if the prospective buyers do their research.
But, the question is..... Will the Imperial be upgraded or will it be an ugly slug in the midst of nicer, upgraded properties. If it is upgraded, how much will the future assessments be?
Dave L.
Ok. My understanding is that they have already and are currently remodelling right know. $40,000 or more per room should give them a decent start. Perhaps they can negotiate some upgrades into their next rental agreement as well. I read a review that the renovation was great. How knows...
Has anybody been there...
dave122 wrote:rpklb wrote:From what I ahave read it is up 2012 with an option to renew for 40 years. They will renegotiate the rent every 10 years under the new lease. They claim to be still trying to purchase the property, which is probably true. The one thing they have in their favor in negotiation is that they hold the option. I wouldn't lose sleep over it. Given the improvements and the location upgrade. You may end up paying a lot more in maintenace fee, but the properties desirabilty should be much higher as well...dave122 wrote:emmettb4 wrote:I thought the lease was up in 2035 is it really 2012From what I've read here, others are saying that the land lease is up for renewal in 2012.
That will make it very difficult to sell any Imperial timeshares, especially if the prospective buyers do their research.
But, the question is..... Will the Imperial be upgraded or will it be an ugly slug in the midst of nicer, upgraded properties. If it is upgraded, how much will the future assessments be?
Kristopher B.
vlahos wrote:There's an Irish pub/saloon across the street from Moose's. A Yard House has opened on Beachwalk. There's more places to drink in Waikiki than most people have money for! Enjoy!dave122 wrote:ANY OTHER PLACE?vlahos wrote:i would have bought it. but on a lighter note. where by this hotel is the best mix drinks and or happy hour. going in june. alohaJust up the street (310 Lewers) is Moose's Waikiki.
Dave L.
dave122 wrote:i just would lkie a place i can relax and enjoy. thankyouvlahos wrote:There's an Irish pub/saloon across the street from Moose's. A Yard House has opened on Beachwalk. There's more places to drink in Waikiki than most people have money for! Enjoy!dave122 wrote:ANY OTHER PLACE?vlahos wrote:i would have bought it. but on a lighter note. where by this hotel is the best mix drinks and or happy hour. going in june. alohaJust up the street (310 Lewers) is Moose's Waikiki.
Mary V.
vlahos wrote:dave122 wrote:i just would lkie a place i can relax and enjoy. thankyouvlahos wrote:There's an Irish pub/saloon across the street from Moose's. A Yard House has opened on Beachwalk. There's more places to drink in Waikiki than most people have money for! Enjoy!dave122 wrote:ANY OTHER PLACE?vlahos wrote:i would have bought it. but on a lighter note. where by this hotel is the best mix drinks and or happy hour. going in june. alohaJust up the street (310 Lewers) is Moose's Waikiki.
Then try the Shorebird Restaurant. It's reasonable, has drinks, and sits right on Waikiki Beach with a wonderful view of the beach and the ocean. Only a few feet from the Imperial in the Outrigger Reef Hotel.
See: http://www.outrigger.com/hotels_newsDetail.aspx?hotel=2&release_id=215
Dave L.
dave122 wrote:that sounds wonderful! just what i'm looking for! any more ideas?vlahos wrote:dave122 wrote:i just would lkie a place i can relax and enjoy. thankyouvlahos wrote:There's an Irish pub/saloon across the street from Moose's. A Yard House has opened on Beachwalk. There's more places to drink in Waikiki than most people have money for! Enjoy!dave122 wrote:ANY OTHER PLACE?vlahos wrote:i would have bought it. but on a lighter note. where by this hotel is the best mix drinks and or happy hour. going in june. alohaJust up the street (310 Lewers) is Moose's Waikiki.
Then try the Shorebird Restaurant. It's reasonable, has drinks, and sits right on Waikiki Beach with a wonderful view of the beach and the ocean. Only a few feet from the Imperial in the Outrigger Reef Hotel.
See: http://www.outrigger.com/hotels_newsDetail.aspx?hotel=2&release_id=215
Mary V.
vlahos wrote:dave122 wrote:that sounds wonderful! just what i'm looking for! any more ideas?vlahos wrote:dave122 wrote:i just would lkie a place i can relax and enjoy. thankyouvlahos wrote:There's an Irish pub/saloon across the street from Moose's. A Yard House has opened on Beachwalk. There's more places to drink in Waikiki than most people have money for! Enjoy!dave122 wrote:ANY OTHER PLACE?vlahos wrote:i would have bought it. but on a lighter note. where by this hotel is the best mix drinks and or happy hour. going in june. alohaJust up the street (310 Lewers) is Moose's Waikiki.
Then try the Shorebird Restaurant. It's reasonable, has drinks, and sits right on Waikiki Beach with a wonderful view of the beach and the ocean. Only a few feet from the Imperial in the Outrigger Reef Hotel.
See: http://www.outrigger.com/hotels_newsDetail.aspx?hotel=2&release_id=215
Sure. You might like Duke's Canoe Club or as the locals call it, "Dukes". It's at the Outrigger Waikiki Hotel and probably the most prime location on Waikiki Beach.
Here's the site: http://www.dukeswaikiki.com/
I like the Shorebird for breakfast or lunch and Duke's for dinner. If you want real hi-ambiance, try the restaurant at the top of the Waikiki Sheraton, the largest hotel on Waikiki Beach. Go about 30 minutes before sunset for a fantastic view of Waikiki and Diamond Head. Somewhat expensive and reservations required.
I highly recommend the book "Oahu Revealed, 2nd Edition". For $15 (Amazon.com), you'll learn all you need to know before going. Plus, the photos are fantastic. After reading it, you'll know more than a lot of the locals.
Dave L.
spencerw4 wrote:We two own for over 26 years, and have not received any information about this assessment until we received a bill to pay it. we also think there should be a class action law suit against Imperial Hawaii, and start by getting all those folks out of authority now. Do a clean sweep from the top to the bottom. This is an investment for our children and children children. We are so frustrated with this timeshare mess. I would like to know where we go from here. If we do not pay the assessment they mess threaten to mess up your credit record and that's not good. we are mad as hell and want to get started on something now. i agree also that they should not charge us anything to sell our weeks if they are forcing us out.I AM A OWNER AT THE IMPERIAL SINCE 1986 OF 4WEEK, AND FILE COMPLINTS AGAINT, MIKE KAPLAN, UNDER THE BLUE SKY LAW, REALESTATE COMMISSION,BBB,SECURTIES AND EXCHANGES COMMISSION THE SAME TIME MICKEY HALE MOVED TO TAKE OVER. I BELIEVE THAT THERE SHOULD BE A OPERATIONAL AND INVESTIGATIVE AUDIT ON THE WHOLE OPERATIONS AT THE IMPERIAL.THEN MOVE FOR A PROXIES BATTLE FOR THE NEXT ELECTION. THE FIRST TO GO SHOULD BE THE MANAGING DIRECTOR PUT THERE BY MICKEY. PLEASE CALL 202 526 5379 OR EMAIL SPENWSCOTT AT COMCAST.NET WE SHOULD NOT WAIT UNTIL NEXT YEAR,START NOW.
Gladys T.
gladyst3 wrote:spencerw4 wrote:We two own for over 26 years, and have not received any information about this assessment until we received a bill to pay it. we also think there should be a class action law suit against Imperial Hawaii, and start by getting all those folks out of authority now. Do a clean sweep from the top to the bottom. This is an investment for our children and children children. We are so frustrated with this timeshare mess. I would like to know where we go from here. If we do not pay the assessment they mess threaten to mess up your credit record and that's not good. we are mad as hell and want to get started on something now. i agree also that they should not charge us anything to sell our weeks if they are forcing us out.I AM A OWNER AT THE IMPERIAL SINCE 1986 OF 4WEEK, AND FILE COMPLINTS AGAINT, MIKE KAPLAN, UNDER THE BLUE SKY LAW, REALESTATE COMMISSION,BBB,SECURTIES AND EXCHANGES COMMISSION THE SAME TIME MICKEY HALE MOVED TO TAKE OVER. I BELIEVE THAT THERE SHOULD BE A OPERATIONAL AND INVESTIGATIVE AUDIT ON THE WHOLE OPERATIONS AT THE IMPERIAL.THEN MOVE FOR A PROXIES BATTLE FOR THE NEXT ELECTION. THE FIRST TO GO SHOULD BE THE MANAGING DIRECTOR PUT THERE BY MICKEY. PLEASE CALL 202 526 5379 OR EMAIL SPENWSCOTT AT COMCAST.NET WE SHOULD NOT WAIT UNTIL NEXT YEAR,START NOW.
There is no "they". It is all "we". These decisions are being made by a volunteer Board consisting of timeshare owners representing timeshare owners. Why is everyone so quick to assume that "our" Board is acting in bad faith and making poor decisions???? The reality is that the issues are much more complex and difficult than any of the posts on this message board would even hint at and the solutions are neither obvious nor non-controversial. The reality is that no matter what decisions are made by the Board, some great number of timeshare owners will not be happy. The reality is that the Board is struggling mightily with these decisions (I can attest to that after attending the AOAO Board meeting and the IHVC Board meeting last Friday and Saturday respectively, and attending the Tuesday morning timeshare owner meeting conducted by the Board last Tuesday). It may surprise the timeshare owners to know that the most important decisions (whether to continue to attempt to buy the land from the lessor, whether to do nothing about the infrastructure issues with the plumbing, electrical, etc., whether to address the infrastructure issues aggressively and proactively, whether to gut the interior of the building and replace everything - as was done with all the buildings in the Waikiki Beachwalk renovation) are not even within the purview of the IHVC Board (the timeshare owners) but are to be decided solely by the AOAO (the entire building homeowner association, including Denny's, ABC Store, private condo owners (lessees), the owners (lessees) of the other commercial space in the building ). The January, 2007 brochure sent to all timeshare owners explaining these issues and the need for the special assessment contain a thousand times more information than the posters here seem to be aware of. Has no one read the brochure? It is really informative and is packed with graphical illustrations and charts that make it an easy read. It was mailed to all timeshare owners, it is passed out at the Tuesday morning timeshare owners meetings, and it was available at the AOAO and IHVC Board meetings (and will likely be available at the IHVC Board meetings this coming Spring).
Jeff H.