New Assessment

I have owned my timeshare for 25 years and have been hit by several larg eassessments over the years. I haven't, for many years, received any bulletins, newsletters, notices of owners' meetings, etc. is anyone else experiencing this? Further, I was shocked to receive another assessment and feel that there is gross mismanagement of funds. Either this, or we are being forced out so IHR can rebuild the complex and make more money. What do others feel about this?

annec92 wrote:

I have owned my timeshare for 25 years and have been hit by several larg eassessments over the years. I haven't, for many years, received any bulletins, newsletters, notices of owners' meetings, etc. is anyone else experiencing this? Further, I was shocked to receive another assessment and feel that there is gross mismanagement of funds. Either this, or we are being forced out so IHR can rebuild the complex and make more money. What do others feel about this?

I question this assessment & the use of funds also. Our assessment for a Banyan suite is approx. $800 for one week. You multiply this by 52 weeks & you're looking at over $40,000 for one unit. We bought back around 1986 & have never used the unit. Did rent it out twice, as I recall. I looked into getting rid of it after I rec'd this asssessment, rather to keep dumping money into it & was surprised at the cost involved in selling the unit. Island Realty wants approx $2,000 in commission plus approx $400-500 in closing fees, plus 4% state tax, plus my $500+ for 07 maintenance, plus $800+ for assessment. Approx, $3,800 in fees. Per Island Realty, most Banyan units are listed from $3,800 up. So much for any profit! The only one making money is the realty. Does anybody know of a quick way to get rid of a timeshare or any other Realtors?

question this assessment & the use of funds also. Our assessment for a Banyan suite is approx. $800 for one week. You multiply this by 52 weeks & you're looking at over $40,000 for one unit. We bought back around 1986 & have never used the unit. Did rent it out twice, as I recall. I looked into getting rid of it after I rec'd this asssessment, rather to keep dumping money into it & was surprised at the cost involved in selling the unit. Island Realty wants approx $2,000 in commission plus approx $400-500 in closing fees, plus 4% state tax, plus my $500+ for 07 maintenance, plus $800+ for assessment. Approx, $3,800 in fees. Per Island Realty, most Banyan units are listed from $3,800 up. So much for any profit! The only one making money is the realty. Does anybody know of a quick way to get rid of a timeshare or any other Realtors?

I also am an owner at this resort. I never had an incling of ANY increase such as this. Two assessment this year for a total $1400. Who in hell was informed of this and how did it ever pass!! We ought to get a class action lawsuit against thre SOB's that oked this thing!!

ralph394 wrote:

I also am an owner at this resort. I never had an incling of ANY increase such as this. Two assessment this year for a total $1400. Who in hell was informed of this and how did it ever pass!! We ought to get a class action lawsuit against thre SOB's that oked this thing!!

the area around are resort has gone throunght a great reformation. be careful of selling your timeshare, it has gone up in valuee. see cam and web page. http://www.imperialofwaikiki.com/

value i would love more hala.

will email you more later. got to go to work now! oh!!! merry christmas

vlahos wrote:

ralph394 wrote:

I also am an owner at this resort. I never had an incling of ANY increase such as this. Two assessment this year for a total $1400. Who in hell was informed of this and how did it ever pass!! We ought to get a class action lawsuit against thre SOB's that oked this thing!!

the area around are resort has gone throunght a great reformation. be careful of selling your timeshare, it has gone up in valuee. see cam and web page. http://www.imperialofwaikiki.com/

value i would love more hala.

will email you more later. got to go to work now! oh!!! merry christmas

I think a class action suit would be a great idea. I don't even know when the owners' meetings are, I have never been notified.

I agree that a class action suit would be in order. I don't even know when the owners' meetings are, I have never been notified. Further, I sent a letter to IHR three weeks ago and have had no response.

annec92 wrote:

I agree that a class action suit would be in order. I don't even know when the owners' meetings are, I have never been notified. Further, I sent a letter to IHR three weeks ago and have had no response.

that you all do not understand is that your unite are now in a prime area. up scale area that will be in big demand. donald tramp is beaach walk and has put millions &million of dollars into this area.

please look, and do not give away your timeshare. with all the bulding that was going on in the area, no one wanted to rent are unites.. how in a prime location, in the center of all the action are unites will be in big demand. i will go in june and when i retired i would love to stay longer. i know it is hard, but there will be a big demaond for your unites TO BUY OR/ FOR RENT. NEED MORE INFO JUST EMAIL. WEB PAGE:

Visit www.waikikibeachwalk.com to receive more information about the project.

WAIKIKI BEACH WALK

vlahos wrote:

annec92 wrote:

I agree that a class action suit would be in order. I don't even know when the owners' meetings are, I have never been notified. Further, I sent a letter to IHR three weeks ago and have had no response.

a class action suit would be in order.

that you all do not understand is that your unite are now in a prime area. up scale area that will be in big demand. donald tramp is beaach walk and has put millions &million of dollars into this area.

please look, and do not give away your timeshare. with all the bulding that was going on in the area, no one wanted to rent are unites.. how in a prime location, in the center of all the action are unites will be in big demand. i will go in june and when i retired i would love to stay longer. i know it is hard, but there will be a big demaond for your unites TO BUY OR/ FOR RENT. NEED MORE INFO JUST EMAIL. WEB PAGE:

Visit www.waikikibeachwalk.com to receive more information about the project.

WAIKIKI BEACH WALK

terryd76 wrote:

question this assessment & the use of funds also. Our assessment for a Banyan suite is approx. $800 for one week. You multiply this by 52 weeks & you're looking at over $40,000 for one unit. We bought back around 1986 & have never used the unit. Did rent it out twice, as I recall. I looked into getting rid of it after I rec'd this asssessment, rather to keep dumping money into it & was surprised at the cost involved in selling the unit. Island Realty wants approx $2,000 in commission plus approx $400-500 in closing fees, plus 4% state tax, plus my $500+ for 07 maintenance, plus $800+ for assessment. Approx, $3,800 in fees. Per Island Realty, most Banyan units are listed from $3,800 up. So much for any profit! The only one making money is the realty. Does anybody know of a quick way to get rid of a timeshare or any other Realtors?

do not , never, never, pay to sell your timeshare. it is wrong to charge you for selling your timeshare.. it will sell fast, if you price it right.. good luck to all the owners like me!

ralph394 wrote:

I also am an owner at this resort. I never had an incling of ANY increase such as this. Two assessment this year for a total $1400. Who in hell was informed of this and how did it ever pass!! We ought to get a class action lawsuit against thre SOB's that oked this thing!!

Before every one gets all exceided about all the new development in the area, and the increased value of our resort. After we spend all the money to get it up to the condition they are talking about. Remember we don't own the land under the building. So come time to renew the lease it will be bend over time, here come the judge.

How do we get a class action suit started? It seems to me if we want to do anything, we need to get started.

vlahos wrote:

vlahos wrote:

annec92 wrote:

I agree that a class action suit would be in order. I don't even know when the owners' meetings are, I have never been notified. Further, I sent a letter to IHR three weeks ago and have had no response.

a class action suit would be in order.

that you all do not understand is that your unite are now in a prime area. up scale area that will be in big demand. donald tramp is beaach walk and has put millions &million of dollars into this area.

please look, and do not give away your timeshare. with all the bulding that was going on in the area, no one wanted to rent are unites.. how in a prime location, in the center of all the action are unites will be in big demand. i will go in june and when i retired i would love to stay longer. i know it is hard, but there will be a big demaond for your unites TO BUY OR/ FOR RENT. NEED MORE INFO JUST EMAIL. WEB PAGE:

Visit www.waikikibeachwalk.com to receive more information about the project.

WAIKIKI BEACH WALK

also, if you need to rent out your timeshare, i know that there is going to be a wedding and there are families that are looking for unites for the forth of july week. post them and the family will rent. good luck to all owners like me!

mary1340 wrote:

vlahos wrote:

vlahos wrote:

annec92 wrote:

I agree that a class action suit would be in order. I don't even know when the owners' meetings are, I have never been notified. Further, I sent a letter to IHR three weeks ago and have had no response.

a class action suit would be in order.

that you all do not understand is that your unite are now in a prime area. up scale area that will be in big demand. donald tramp is beaach walk and has put millions &million of dollars into this area.

please look, and do not give away your timeshare. with all the bulding that was going on in the area, no one wanted to rent are unites.. how in a prime location, in the center of all the action are unites will be in big demand. i will go in june and when i retired i would love to stay longer. i know it is hard, but there will be a big demaond for your unites TO BUY OR/ FOR RENT. NEED MORE INFO JUST EMAIL. WEB PAGE:

Visit www.waikikibeachwalk.com to receive more information about the project.

WAIKIKI BEACH WALK

also, if you need to rent out your timeshare, i know that there is going to be a wedding and there are families that are looking for unites for the forth of july week. post them and the family will rent. good luck to all owners like me!

Hello owners........The Imperial is in sad shape. Read your newsletter booklet. I don't care how much money Trump is putting in the area or the other developers.....it will cost millions to renovate the Imperial at our expense. There are no guarantees. These clowns playing with our money have no clue. This assessment is $800... how much for a total renovation? I can't afford this nor do I want to spend it on a one week vacation. I can rent a week through red week cheaper than I'm paying to own the week. Actually, I can stay at a five star resort for what I'm paying in assessments. Logic would dictate that everyone is going to sell and this place is going down. Find a lawyer who'll do this on a contingency and I'm in on a class action suit. I sense a little bit of Fraud and Misrepresention not to mention misappropriation of funds.

Rember this sits on leased property we fix it up and when comes time to renew the lease Gotch ya.

I would like to know how much the Imperial was offered to sell out to the new development? Why the board (those people acting under a fiduciary duty to us) didn't negotiate with the developers to incorporate us into the new Lewers Street plan? I'm sure many of us would have considered paying a little more to be part of the new development? If not, we should have been allowed to sell out instead of being threatened with collections and foreclosure. The Imperial will be a real eye sore in a year or so. I can't imagine the new development not wanting to incorporate it. What really stinks is the threat of foreclosure and damage to my credit rating. When I entered into my time share agreement I never contemplated rebuilding the entire building. I would like someone to point out to me where in my agreement I acquiesced to assessments equivalent to a brand new building which may happen. On the other hand should this wonderful board decide not to do anything will I get any of this money back? This fiduciary duty line is a bunch of crap. I believe we should have the ability to vote on these major issues as individuals and decide our own fate. I'm not happy with being threatened. When I sign my mortgage I know exactly what my payment will be for the next 30 years. When I signed my purchase agreement for this timeshare I expected the payment would remain the same and/or reasonable. Maybe it is time for the Imperial to sell out.......what are you all going to do if the next assessment is in the thousands?

This assessment maybe for fixing up the place the next problem will be hugh maintaince fees for the new lease agreement on the land under the building. Because of all the high end development across the street. The land the Imperial it sits on will be apraised maybe double or more what it is now so the owners of the land will demand to be paid for the new value and it will be pased on to the owners of the vacation weeks we have no choise. We have been told that they were going to buy the land under the building which never happend, than we were told that they were going to pursue getting it condemed like the property across the street so they could buy it, that didn't happen. So now after the building is refurbished and the lease comes due in a few years than what. Eithor you sign the new inflated lease amount or we all walk away from the building and the lessor takes over the property that sits on their land. Than it won't be a maintaince assesment it will be one thousand or much more every year just for maintaince fees. One thousand already sounds low to me. It is all about the land under the building that will control the numbers in the future. We are fixing up the lessors building.

mary1340 wrote:

I would like to know how much the Imperial was offered to sell out to the new development? Why the board (those people acting under a fiduciary duty to us) didn't negotiate with the developers to incorporate us into the new Lewers Street plan? I'm sure many of us would have considered paying a little more to be part of the new development? If not, we should have been allowed to sell out instead of being threatened with collections and foreclosure. The Imperial will be a real eye sore in a year or so. I can't imagine the new development not wanting to incorporate it. What really stinks is the threat of foreclosure and damage to my credit rating. When I entered into my time share agreement I never contemplated rebuilding the entire building. I would like someone to point out to me where in my agreement I acquiesced to assessments equivalent to a brand new building which may happen. On the other hand should this wonderful board decide not to do anything will I get any of this money back? This fiduciary duty line is a bunch of crap. I believe we should have the ability to vote on these major issues as individuals and decide our own fate. I'm not happy with being threatened. When I sign my mortgage I know exactly what my payment will be for the next 30 years. When I signed my purchase agreement for this timeshare I expected the payment would remain the same and/or reasonable. Maybe it is time for the Imperial to sell out.......what are you all going to do if the next assessment is in the thousands?

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.

Scott

I talked to you on the phone the other day. Since I talked to you, I have been able to start the process of donating my timeshare. I wish you all lots of good luck in dealing with this situation. I hope all goes well.

Vicky Johnson

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. aloha