I PURCHASED A MARRIOTT TIME SHARE WEEK (NOT YET BUILT) IN 2001 ON THE ISLAND OF KAUAI (MARRIOTT'S WAIOHAI BEACH CLUB).
We first had the opportunity to use our new time share in 2003 when the development was completed. Had a great time and the kids loved it.
Five years later we found we were more comfortable at the nearby Marriott Kauai Beach Club in Lihue.
We discovered that as our kids got older and went off to college the resort was too family oriented for our enjoyment - it was so crowded with the younger generation that the noise level and activity ruined the serenity we hungered for. (even with a designated adult pool as it was never policed and highly abused).
As an investment, this particular property worked out okay. The value has gone up and we have no problem renting our week every year with money left over after maintenance fees.
Looking back on the whole experience we are now pretty much convinced that the money we plopped down for the week could have been invested more wisely even without sacrificing the joy of Hawaii vacations.
Of those out there that have purchased I would love to hear your opinions.
misterchk - you raise a great question, and I don't think the answer will be obvious for most people. We own three weeks under the weeks system and some points under the new. My major regret is that we didn't get into this earlier, when our kids were younger. They have been in college or out of college since we started up with MVCI. We are happy with the program, but I acknowledge that a case could probably be made to just pay for the vacations you want to take without putting the money up front.
My parents purchased 2 weeks at Newport Coast 10 years ago (they've since purchased an additional week under the new points system). Even though the maintenance fees have steadily gone up, and it is a hassle to get the bldg, floor, room that they want every year, and even though they only live 36 miles away (inland) from the coastal resort, they have absolutely no regrets. They love their beach weeks, and so do we who are invited to spend a week with them each and every year. We (and they) have never tired of Newport Coast, Corona Del Mar, Balboa, Newport Beach, Huntington Beach and Laguna, nor do I suspect that we ever will. It's absolutely wonderful.
Knowing what I know now I probably would NOT do it again, although it has worked out alright.
Frankly you can get much better deals (lower annual cost than Maintenance Fees, and no capital costs!) on II.
However, in my case having the time paid for encouraged me to take the time off, which I needed to do.
The destination points program devalued the week, since the points I would have gotten if I'd converted would not even cover a week at the resort where I own.