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Aloha, my name is Syed Sarmad and I’m the Principal Broker for Advantage Vacation. Advantage Vacation is a licensed real estate company located in Lahaina, Maui. We have been in the timeshare business for over 30 years and we specialize in name brand timeshare resales.
Today I would like to talk about the Hawaii timeshare development industry in Hawaii. I’m going to start in alphabetical order beginning with Hilton.
Hilton is adding another tower which will be their fourth one at the Hilton Hawaiian Village. It’s called the Grand Islander and construction has already started. It’s going to be a 37 story building with 418 units. On the Big Island, Hilton will be adding on additional units to the existing Kings Land project. Also, in 2017 they plan to take some of the units at what is now called the Ocean Towers at the Hilton Waikoloa Hotel and convert those into Hilton timeshares. So that is another new property that will be coming on line. In Maui, starting next year, Hilton will be building brand new Hilton timeshares in a development in Kihei which is on the south side of Maui. They are taking the existing Maui Lu property and starting a Hilton timeshares development which will have 216 units.
As far as Hyatt timeshare goes, their property on the Hyatt Kaanapali Beach that closed last December has 131 units consisting of one, two and three bedroom Hyatt timeshare units and reported sales of the Hyatt timeshare units are very brisk at this property.
As for Marriott timeshare, the Marriott Ko Olina is adding on a new tower which will be completed in the next year and a half. That will be another new Marriott timeshare property which will be added to the existing property at Marriott Ko Olina. Marriott timeshare, as you know, is a points based program and they also have deeded week owners that own Legacy Weeks but the points program activity is reported to be very brisk.
The Westin timeshare in Maui will be adding on their third new development adjacent to the Westin Kaanapali North which is called the Westin Nanea Resort Villas. Construction has already started and is expected to be completed in 2017. They’ll have 390 Westin timeshare units consisting of two and three bedroom units. Starwood is spinning off their vacation ownership portfolio and will be going public later this year with plans to add more timeshares to their vacation ownership program. They will be including the Sheraton Kauai Hotel with some of those units becoming part of the timeshare portfolio. And word has it that the Westin timeshare at Westin Nanea Ocean Resort Villas and the Sheraton Kauai will become part of a new points based program. Also as part of the spinoff, they will be creating a new identity for their timeshare vacation ownership called the Vistana Signature Series.
So, there is a lot of new timeshare development in Hawaii. The plan seems to be building destination resorts where the resorts are complete with all the amenities and it seems like the big companies certainly have a great interest and see a bright future for timeshares in Hawaii.
And that is the update on Hawaii timeshare development!
Syed Sarmad, Principal Broker for Advantage Vacation