I attended the auction of Westin Kaanapali Ocean Resort foreclosures held on Maui on Wednesday, October 17, 2018 for foreclosed inventory of past due maintenance fees.
I’ve attended these foreclosure auctions for the past several years, and there is always a representative from the Developer there out-bidding people who are attempting to purchase inventory on the auction market.
This year there were 41 weeks in the South Villas and 37 weeks in the North Villas that were up for auction. I represented clients and won bids for 12 weeks. Most of the rest was bought back by Vistana/Marriott.
Syed Sarmad, Principal Broker for Advantage Vacation