The comments, concerns and complaints continue to be posted regarding the water intrusion assessment by Diamond Resorts International (DRI) at The Point at Poipu – Kauai. As our on going commitment to the owners at the Point at Poipu resort, following are more comments Advantage Vacation has received and our response to several of the owner’s questions.
October 25 the following comments were received:
“What can we do? If we don’t pay, they will ruin our credit and we lose a beautiful piece of heaven on earth – along with our money. If we pay, we are suckers! If we decide to exchange our points for other properties, we are essentially paying for not using our home resort. Anyone know of any legit group being formed to fight this? Of course, we only have a few weeks before this money is due…”
“I’m wondering if someone would be willing to offer their email address as a central point for owners to send their names and email addresses? There is a lot of shock, complaints and confusion as what to do. Once we learn what our options may be, we can better communicate with disgruntled owners. I would be willing to take names, but also willing if someone else who is also a owner and NOT real estate industry connected would volunteer instead. That way we will build power to make a difference.”
In response to the above comment another concerned owner replied:
“The owners group http://www.poipuowners.org WILL be taking up the fight against DRI. Please give them time to update their contact list and to get organized. This group is open to ALL individuals impacted by the recent assessment (deeded owners and points). They are currently working on communication for all those who have registered with the site. I do not have the total count of registrants but I believe it is well over 500. CDOPP Home Page
On October 29, the following comment was posted:
“We recently converted from a simple deed to the Club points system. A big mistakes. We were told if we didn’t convert we would lose amenities and privileges. I was not given time to read over the new 6 page sale contract which we signed with their urging us to. Big mistake. With the old deed we were only responsible for maintenance at our home resort on Maui. With the Club we are now responsible for maintenance on all the Hawaiian properties.
Now there is no way to cancel or get out of this Club membership with its points system that we find useless.
It appears we are legally bound with Diamond Resorts and their Club until death.”
To which Advantage Vacation replied: “The Diamond points program has little or no market value . The resale buyer can use the points only at Ka anapali Beach Club, Poipu Point, Polo Towers and Sedona Summit, unless he elects to pay Diamond an initiation fee into the Diamond Club program. The last I heard Diamond was charging $6500.00 but this figure could be different today.”
Additional comments received October 29:
“Here’s my fear..even if I pay this assessment in an attempt to save my good credit there may be many others who will not do the same. I know many people who’s credit is already ruined through short sales and foreclosures of their primary residence so walking away from this bad deal is a real option for them. Where does that leave me? More assessments or unfinished projects for many years.
Reading these threads it seems obvious that most other owners are like me and had no idea this was coming. I bought in good faith that management knew what they were doing. It seems that in this economic environment this project should be greatly reduced and spread over many more years. This kind of assessment is outrageous and abusive.”
“It’s very unfair by DRI to raise the maintenance fees 100% for the upcoming year due to water intrusion and members have no chance to file a grievance. The only choice is to pay up or get your credit ruin. This year is poipu point, what is going to be the following year since we are members of the Hawaii collection? The maintenance fees are higher than just going and book ourselves into any other resort without the hassle to get accommodations. What they are doing is a rip-off.”
“We own two weeks every odd year of a float- float oceanfront unit at the Point at Poipu. We would like to sell our interests. Is there any market for this property now that the have imposed a large assessment?”
Advantage Vacation’s response to the above comment: “Unfortunately there is no market value at this time for Poipu Point. The market was soft for this resort prior to the special assessment. Now that there is a huge special assessment this has further dampened the market. At this time the market is flooded with inventory. Perhaps in time the market will improve after the special assessment and repairs have been made. We appreciate your comments.
Advantage Vacation will continue to publish the comments and concerns of time share owners at The Point of Poipu timeshare resort as a way of monitoring the progress of this very controversial issue.
We invite you to participate and become involved if you are a time share owner at The Point at Poipu, Kauai.
Advantage Vacation is a member of the American Resort Development Association (ARDA) and offers the best buys on the timeshare resale market today. We never charge an upfront fee for clients who want to sell a timeshare and only receive a commission, paid from escrow, when the transaction is closed.
We have been in the timeshare industry for over 30 years and are Accredited Members of The BBB with an A + Rating.
We hope you will follow us and our blog, timeshare blogging and make your voice heard – what questions do you have?
At Advantage Vacation you can be assured you are working with professionals who believe that honesty and integrity are the most important aspects of the business they are in – timeshare resales. Our business has been built on relationships and we pride ourselves on providing excellent service to our clients.
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