Vacation ownership, also known as timeshare, fractional vacation ownership, quarterly ownership, etc., is one of the most highly regulated vacation products in today’s consumer market. Many states, including Hawaii, have instituted very strict laws governing the sale and resale of timeshares to protect consumers. The laws, generally aimed at timeshare developers, address such issues as financial requirements for the developer, rescission rights, disclosures about the resort itself and provisions for resort management.
If you are considering buying Hawaii timeshare resales, it is important to make sure you are dealing with a timeshare broker licensed in the State of Hawaii. By working with a Hawaii licensed professional you are assured that every transaction is in compliance with Hawaii state laws and that you will receive the appropriate disclosure statements and information regarding the rescission period. A Hawaii licensed timeshare resales broker is required to provide you with disclosure statements and rescission rights for Hawaii timeshare sales while most non-Hawaii brokers don’t offer disclosure statements.
Following are some points you will want to consider prior to the purchase of a Hawaii timeshare resale:
While timeshare is real estate (because many timeshare resorts offer deeded weeks) it is not an investment in anything but your future vacations. While real estate historically goes up in value, timeshares rarely do. Purchasing a timeshare resale is simply a way to ensure that you and your family will enjoy a lifetime of vacations together.
Purchasing Hawaii timeshare resales from a Hawaii licensed timeshare resale broker will save you a considerable amount of money. The cost is much less than purchasing retail from the developer who has incurred significant advertising, marketing and other related costs in order to sell the timeshare to you.
Hawaii continues to be a very popular timeshare vacation destination. The name brand recognition of companies such as Hilton, Hyatt, Marriott and Westin/Starwood (now Vistana) offer the vacation ownership consumer an assurance of a higher standard of excellence in the industry.
A high demand destination, like Hawaii, joined with the purchase of a name brand property like Westin Kaanapali Ocean Resort Villas, Marriott Maui Ocean Club or Hyatt Kaanapali Beach will ensure a high quality vacation whether you enjoy the week you bought at your home resort in Maui or use it to trade to other popular destinations around the world.
Once you’ve decided to buy a Hawaii timeshare resale, read all documents thoroughly and make sure you understand what type of product you are being offered. Ask questions and be sure you understand the terminology and purchase terms, such as “fee simple” (provides a real estate interest) or “right to use” (no real estate interest).
Vacationing has been proven to be good for our health and gives us quality family time together. While timeshare should never be purchased as a financial investment, owning a timeshare vacation is an investment in quality vacations in the future for your family and loved ones.
Syed Sarmad, Principal Broker for Advantage Vacation