Toying, just toying mind you, with the idea of a Hawaii timeshare (especially interested in Kauai). If I did purchase one, I'd probably be mostly interested in going through reseller as apposed to buying new (because of the lower cost).

So my question is this -

What do you folks think of this idea?

Any honest resellers out there?

Any and all feedback welcome. I do recognize that many folks really hate timeshares, and I've not been a fan of them myself, but am starting to reconsider as retirement draws a little closer - though still a decade or more away. It might be nice to have a guarenteed place to go to each year. We tend to like places with their own kitchens and so when we do return to Hawaii it will likely be a condo (even if we just do an individual rental for a week or 2) so as I say, I'm toying with the idea of possibly going the timeshare route.

Ken

Mariott is head and shoulders above the rest. Search Mariott timeshare resales and you'll find plenty of sites.

I just don't get why you (or anyone else) would buy a timeshare, rather than just renting a condo every time you want to go or, if you're looking for an investment, buying something outright and renting it out while you're not using it?

Most people I know who have a timeshare bought it because they wanted to be able to go to several different places. Usually it didn't work out b/c wherever they wanted to go wasn't avaiable etc. If you just want one location, why bother with a timeshare? Am I missing something?

Timeshares are the only real estate I am aware of that actually depreciates over time. No tax deductions, no control over management costs. I read where one person sold their's to a dying friend so they could get out of the monthly payments for life.

I've been looking at redweek.com for over a year now. I got the address out of one of the women's magazines like family circle or womans day.

I guess it depends in part on how much you pay and how many years you think you'll be able to use it (or bequeath it later). A friend bought one in Honolulu for well under $10K, has never seen it, just to trade for weeks elsewhere.

Look at http://www.tug2.net I believe full access costs a few bucks but probably worth it. Good luck.

My parents have one in Aspen they bought for $16,000 twenty years ago. Someone is selling one for $12,000 (been for sale for two years) for the same weeks as my parents. Costs include yearly upkeep of over $1,000 and each time they trade for another place I think they pay $185 through RCI.

I appreciate the use of their timeshare but don't want to "own" myself as I like going where and when I please and a timeshare bought on the cheap will only save money in the very long run if at all.

1.) Buy right (typically used). You'll own it for life. Mine paid for itself after the third year.

2.) Join www.Tug2.net for $15/year. They list many resales. It is THE timeshare information website. You can visit the site for free.

3.) While Marriott resorts are excellent, they can be pricey. I bought 2 weeks through the organization Sunterra for a deeded property at $6,000. Yearly maintenance and club dues are $525/yr. Great worldwide locations and resorts. This year I traded one of my weeks for a one-bedroom, oceanfront deluxe room at Embassy Vacation Resort Ka'anapali Beach on Maui, and I will still have another week to travel. I have traded into the beautiful Marriott on Singer Island, FL and enjoyed their awesome resort for a fraction of what other owners paid.

4.) Anyone who tells you that the costs are not worth the expense either:
(a) don't know what they are talking about, or
(b) got ripped off in their own purchase and are venting.

5.) Look for companies who own many resorts in various locations. Through that type of purchase, you can exchange your week(s) more easily and without enduring any additional exchange fees. Exchange fees to trade OUTSIDE of your company that you might purchase within typically run around $130/week - such was the case when I paid to use the Marriott Ocean in FL.

6.) Do your homework and I know you will be happy. Knowledge is power - which needless to say goes hand-in-hand with a "blue-state" purchase and mentality.

-Paul

Do visit Tug2 -and no; I have no vested interest in the web service.

Paul, I'm thrilled to hear yours is working out. My friend's parents also had one that worked very well for them. But everyone else I know has been sorry. They never were able to trade to places they wanted, when they wanted to go OR the locations were less than ideal. I think one key may be having flexibility. My friends' parents were basically retired so could travel anytime. I think for people with kids who can only travel during school holidays or a job with limited time off, it's a nightmare.

I'm not thrilled with timeshares. We've looked at them and had to break out the calculator.

1) Monthly cost to purchase. Most people will finance.

2) Annual maintenance fee. Varies, and will never go down -- always up.

3) Annual RCI membership fee.

4) The cost to trade your week for another (up to $200).

I think you need to sit down, do the math, then decide if that's for you.

I agree that timeshares are not for everyone, and you do have to do the math. However, I have owned 3 weeks oceanfront timeshares on Kauai for 12 years and have been very happy with my decision to purchase. Mainly, I do not ever trade and I use my weeks faithfully every year because I love Kauai and my resort, and have no desire to go elsewhere. I gave up my membership to RCI because I do not trade and if I desire to do so, my resort has its own trading company. It all depends what you want in a vacation. Personally, I like the condo timeshare resort concept. I did think about buying a whole unit( not timeshare) at one time, but decided against it, as didn't want to have to worry about renting it and all that. You also pay maintenence or grounds fees at most condo complexes that are not timeshare. If you rent it you will pay management fees if you use a rental company, as well as housekeeping and cleaning fees. You can't get away from that. I think you will find many happy timeshare owners, as well as those who feel it is an unwise investment. I guess only you can decide how to spend your money. If you do buy , Hawaii is generally your best bet if you want the best trading power.

How come that whenever the subject of timeshares comes up, and almost everyone says that they are the pits, someone says "In my case (or in my parent's case), we have a jewel". Are these people trying to convince themselves that they did not get snookered? It seems universally that timeshares are not what they originally shaped up to be in the glittering ads.

Waldo, I think it's like anything else, different strokes for different folks. Another example would be tours. Most people on this board would probably not like a tour b/c we like to do our own planning etc. But that's not to say there aren't other people who think tours are a great way to travel. If that weren't the case all these tour cos. wouldn't be in business.

I think Paul put it in perspective when he made his list. Obviously buying smart is the key. But also assessing what you really want to do (g0 to the same place vs trading locations) and how flexible you are is also important. I am a person who likes variety. Even if I chose to go to the same location each year, I'd probably like to try different places there. That's a consideration for LordBlafor, esp. for Kauai.

My husband and I have 2 timeshares.

We love them, but are not naive enough to think of either as an investment.

We bought our first on Nantucket Island in MA after renting there one week. We had been going to the Island annually for over 10 yrs and always stayed in a B&B. The rates are very high for a week at a B&B and then adding in food... We like the ability to have our own "home" and cook our meals. Most times we eat breakfast and dinner at home, and do lunch out. We got a good deal - someone who had to sell, so we got for 1/2 of what most people paid.

A couple of times we have not been able to go, so we have simply rented it out. We've also made some great friends that we see every year, and always get together for a party one night of the week.

Our second buy was a timeshare at a ski resort in VT. Again, we always ski one week a year, and we got a steal. We paid only 4K for a 2,000+ sq. ft. free-standing house at a great ski mountain. Again, if we want to go elsewhere, we rent it out.

We haven't tried the exchanges yet - not sure about that. I agree key is to buy in a place you like and would like going to often, and also to buy a red week so it's a high demand unit. I think that gives you more flexibility.

Some people hate having the same week every year they have to go to the same place, (although there are floating weeks), but we found it forces us to get away and take time off.

What about renting thru outfits like http://www.timesharesonly.com/ (who are advertising on TV)?
Looks like some attractive deals eg Maui Embassy for about $1K/wk.
Any caveats ?

I think a timeshare is perfect for people who do a lot of traveling. That is what decided it for us, plus the fact that we can have a kitchen and a large space to spread out in, and the fact that our daughter will have her own room when ever we go somewhere. It sucks to go to bed early in a hotel because she is tired, can't watch t.v. or turn on the light. And we can bring friends or family along and be all together in one space. We bought ours in the Bahamas and traded it for a week in Maui (leaving this Sunday by the way) and it didn't cost us $200.00 to switch, and we still have points left over that we are going to use at the Bahama's resort later in the year. We only bought one week mind you, but we are getting the use of two weeks because of how we used it. It is not an investment, anyone that tells you that it is a poor investment is right, but you don't really buy them with the intention to sell it, you buy it with the intention of using it forever. We plan to give it to our daughter when we are too old (or die) because you are able to put it in your will. If you think you are able to travel and use it every year it is great!! (think about how much you would spend for a week in Kauai in a condo times it by however many years, it is a lot of money) Good luck with your decision, it is a tough one, but we are happy with ours!!!!

I've never been covinced that a timeshare was the way to go. I find that renting condos directly from owners gives me the flexibility I need at a good yearly price. Also, if I have a year that I can't vacation, I don't have any worry or hassel. If I have a good year that I want to spend a little more on luxury, I have that option. What has always amazed me about timeshares is that SOMEBODY is really making a bundle on the whole concept. Take for example a 200 unit complex has 10400 individually owned weeks per year. (200units X 52 ) Say each owned week pays a $500 maintenance fee. 10400 X $500 = $5,200,000 just in maintenance fees. Now, if each of those 10400 owned weeks sold for even as little as $10,000 each (which is a lowball number) that would total $104,000,000 in total sales of the units. Now, if you figure the interest they make by financing the majority of these $104 million of sold weeks. Hmmmmm...I think I'm in the wrong business!

There's a few resort and hotel owners making the same bundle off of you and me and everybody else. Don't kid yourself!