The value of owning at KoOlina when you can't go

Love the resort, but I don't feel like we get a good trade value in the states, even with the bonus week. For the next year, knowing that we wouldn't be going to Hawaii, I choose to rent it out, only to find that the maintainance cost for the year (which went up substantially)was more than the rental cost for a week!!! We did allow Marriott to take care of the rental this time, but felt like we got a good price to use on get-away weekends through Interval International. We are considering selling it, unless we can find a better way to get the best for our buck.

How much did you rent it out for? I would think depending on the time of year, you should at least break even if you rented it yourself. From what I heard there is no such thing as a bonus week when you trade. I heard you have to pay interval for the extra week. II is only looking out for II and will give you the minimum in trade. I think if you own in Hawaii, you must use it to get your value out of it. As you know, Ko'Olina is not cheap. We plan to go every year.

barryt22 wrote:

How much did you rent it out for? I would think depending on the time of year, you should at least break even if you rented it yourself. From what I heard there is no such thing as a bonus week when you trade. I heard you have to pay interval for the extra week. II is only looking out for II and will give you the minimum in trade. I think if you own in Hawaii, you must use it to get your value out of it. As you know, Ko'Olina is not cheap. We plan to go every year.

Thanks - that was exactly my thinking. There aren't many places to get even a partial exchange for when you own in Hawaii. Knowing that we probably won't go every year makes me ? whether or not we should keep it, especially knowing that the maintainance costs will obviously continue to climb, and perhaps excessively, as it did this year. Our 'bonus week' costs us $199, which is fine. And yes, II only looks out for themselves. I prefer to work through Marriott, and let them go to bat for me when II is involved. I am still not comfortable with the rent by owner thing as I feel that the liability isn't worth it. We will keep the condo for a few years anyway, but I am not so sure it was the investment we thought it would be.

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

jimw143 wrote:

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

Not totally correct, I own Marriott in Horizon, Orlando, FL the cheapest resort you could buy at the time from Marriott. I have never had any problem transferring into Hawaii, I own a 2 bedroom, and usually go for a one bedroom, last year I requested and received a 2 bedroom in Ko-Olina. Here were my tranfers, 2002 Marriot Kuai, 2003 Marriott Ko-Olina, 2004 II Transfer to Puerto Rico, 2005 Marriott Ko-Olina 2 bedroom, 2006 Marriott Ko-Olina, and purchased a week at Hilton Hawaiian Village for $1,200 on Red Week.

steven2090 wrote:

jimw143 wrote:

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

Not totally correct, I own Marriott in Horizon, Orlando, FL the cheapest resort you could buy at the time from Marriott. I have never had any problem transferring into Hawaii, I own a 2 bedroom, and usually go for a one bedroom, last year I requested and received a 2 bedroom in Ko-Olina. Here were my tranfers, 2002 Marriot Kuai, 2003 Marriott Ko-Olina, 2004 II Transfer to Puerto Rico, 2005 Marriott Ko-Olina 2 bedroom, 2006 Marriott Ko-Olina, and purchased a week at Hilton Hawaiian Village for $1,200 on Red Week.

How far in advance did you make your request and how far in advance did you deposit your week in Florida to be able to trade in Hawaii???

55amg wrote:

steven2090 wrote:

jimw143 wrote:

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

Not totally correct, I own Marriott in Horizon, Orlando, FL the cheapest resort you could buy at the time from Marriott. I have never had any problem transferring into Hawaii, I own a 2 bedroom, and usually go for a one bedroom, last year I requested and received a 2 bedroom in Ko-Olina. Here were my tranfers, 2002 Marriot Kuai, 2003 Marriott Ko-Olina, 2004 II Transfer to Puerto Rico, 2005 Marriott Ko-Olina 2 bedroom, 2006 Marriott Ko-Olina, and purchased a week at Hilton Hawaiian Village for $1,200 on Red Week.

How far in advance did you make your request and how far in advance did you deposit your week in Florida to be able to trade in Hawaii???

stephaniet47 wrote:

55amg wrote:

steven2090 wrote:

jimw143 wrote:

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

Not totally correct, I own Marriott in Horizon, Orlando, FL the cheapest resort you could buy at the time from Marriott. I have never had any problem transferring into Hawaii, I own a 2 bedroom, and usually go for a one bedroom, last year I requested and received a 2 bedroom in Ko-Olina. Here were my tranfers, 2002 Marriot Kuai, 2003 Marriott Ko-Olina, 2004 II Transfer to Puerto Rico, 2005 Marriott Ko-Olina 2 bedroom, 2006 Marriott Ko-Olina, and purchased a week at Hilton Hawaiian Village for $1,200 on Red Week.

How far in advance did you make your request and how far in advance did you deposit your week in Florida to be able to trade in Hawaii???

Seems like it might pay to get a less expensive resort, and trade up. Now you got me wondering how much you paid for Your Horizon timeshare, as we did pay a premium for Ko Olina

55amg wrote:

steven2090 wrote:

jimw143 wrote:

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

Not totally correct, I own Marriott in Horizon, Orlando, FL the cheapest resort you could buy at the time from Marriott. I have never had any problem transferring into Hawaii, I own a 2 bedroom, and usually go for a one bedroom, last year I requested and received a 2 bedroom in Ko-Olina. Here were my tranfers, 2002 Marriot Kuai, 2003 Marriott Ko-Olina, 2004 II Transfer to Puerto Rico, 2005 Marriott Ko-Olina 2 bedroom, 2006 Marriott Ko-Olina, and purchased a week at Hilton Hawaiian Village for $1,200 on Red Week.

How far in advance did you make your request and how far in advance did you deposit your week in Florida to be able to trade in Hawaii???

Normally I can not do it before 6 months because of my sechedule: When I went to Kaui I did it myself off Interval's website. The first Ko-Olina trip was probably 6 months in advance. The second time when I received the two bedroom was Aug or Sept for a Dec travel date, same year. This year was earlier like May or June for a Dec. travel date. I do not travel on major holidays, or the summer. But then I live in Virginia Beach a resort town, so I really don't want to go to Hawaii in the summer anyway.

Hope this helps. If you are a Marriott member they will work to get you in. My thought on time shares is buy the cheapest Marriott resort you can in a good location like Orlando. I own Orlando Red Time (summer time), then trade it. Hey want to hear something else, our units were originally non-lock off two bedrooms, now they are lock off bedrooms. Also for some unkown reason have to call Interval, Interval gave me a free week this year. Maui and Kaui are easy to get into anytime of the year, you can do that off the II web site on your own.

But if you really want a little bit of heaven, spend your first week at Ko-Olina or your second, then rent another week at Hilton Hawiian Village (check for the construction, terrible noise when we went). Try

stephaniet47 wrote:

stephaniet47 wrote:

55amg wrote:

steven2090 wrote:

jimw143 wrote:

FYI, All Time Share maintenance fees in Hawaii are going up this year. Hawaii revalued property in 2006 and so it impacted everyone. I also own a week in Maui and the same thing happened there. Ugh!

Ko Olina was also hit a bit harder this year because the developer subsidy ended. This was money the developer paid MVCI for the uncompleted units. Although construction continues, the subsidies are gone.

As an owner, you should have received a letter in late November or early December explaining why maintenance fees went up so drastically.

Although I stay at my Ko Olina property almost every year, I have not any any trouble trading out for another location since Hawaii is the #1 requested trade. However, I try to stay within Marriott VCI as you have priority within II over non-Marriott owners.

There is some talk that Marriott plans to start doing it’s own exchanges, but that is a couple years away yet.

With regard to bonus weeks, they are only given on property, like Ko Olina, where the demand is high. It’s an incentive to trade your week.

Hope this helps shed some light.

Not totally correct, I own Marriott in Horizon, Orlando, FL the cheapest resort you could buy at the time from Marriott. I have never had any problem transferring into Hawaii, I own a 2 bedroom, and usually go for a one bedroom, last year I requested and received a 2 bedroom in Ko-Olina. Here were my tranfers, 2002 Marriot Kuai, 2003 Marriott Ko-Olina, 2004 II Transfer to Puerto Rico, 2005 Marriott Ko-Olina 2 bedroom, 2006 Marriott Ko-Olina, and purchased a week at Hilton Hawaiian Village for $1,200 on Red Week.

How far in advance did you make your request and how far in advance did you deposit your week in Florida to be able to trade in Hawaii???

Seems like it might pay to get a less expensive resort, and trade up. Now you got me wondering how much you paid for Your Horizon timeshare, as we did pay a premium for Ko Olina

$12,000, 2001! Now don't think I did something smart, totally an accident. I did the tour in Florida, if I had been in Ko-Olina, I might have done the same thing. We all live and learn.

We decided to try renting, for the first time, on Redweek.com. It worked out well. We own the 2 bedroom w/lockoff at Ko Olina. We are using the master unit and decided to rent the lockoff while we are there. We rented the lockoff for $1,200, which is almost enough to cover the maintenance fee for the year AND we are using the main unit. Effectively, we are having our vacation "free of the maintenance fee" for the year.

I am assuming that you picked a date out, advertised it, and waited for a bite. Did you draw up your own contract? What did you do about liability? thanks for the feedback!

We are looking to rent for the 1st time. Can anyone provide us with any advise on on the process. To this point we have secured a week and recently posted on Redweek. Did you secure quest certificates before you started the rental process? Is there a standard contract? Did you obtain liability coverage in a separate policy from your personal insurance broker? What is standard practice for down payments or escrow and when if final payment generally made?

Sorry for all the questions. Maybe easier to ask is any advise on where I can look all this up. Thanks

johnm882 wrote:

We are looking to rent for the 1st time. Can anyone provide us with any advise on on the process. To this point we have secured a week and recently posted on Redweek. Did you secure quest certificates before you started the rental process? Is there a standard contract? Did you obtain liability coverage in a separate policy from your personal insurance broker? What is standard practice for down payments or escrow and when if final payment generally made?

Sorry for all the questions. Maybe easier to ask is any advise on where I can look all this up. Thanks

Hi John,

There is a lot of information on the process under the main forums. Check out this link http://www.redweek.com/forums/messages?thread_id=9888

You can also check out this link http://www.redweek.com/help/rental_process/owner

Thanks, Marty

marty8084 wrote:

johnm882 wrote:

We are looking to rent for the 1st time. Can anyone provide us with any advise on on the process. To this point we have secured a week and recently posted on Redweek. Did you secure quest certificates before you started the rental process? Is there a standard contract? Did you obtain liability coverage in a separate policy from your personal insurance broker? What is standard practice for down payments or escrow and when if final payment generally made?

Sorry for all the questions. Maybe easier to ask is any advise on where I can look all this up. Thanks

Hi John,

There is a lot of information on the process under the main forums. Check out this link http://www.redweek.com/forums/messages?thread_id=9888

You can also check out this link http://www.redweek.com/help/rental_process/owner

Thanks, Marty

The staff at Ko-Olina, informed me Ko-Olina is sold out 93% of the time. I doubt if you would have a hard time renting. However, the high times are still, summer vacation time, holidays, and Jan and Feb.