Hyatt Enters Hawaii Time-Share Market

Hyatt has entered Hawaii time-share market with the opening of the Hyatt Kaanapali Beach, a Hyatt Residence Club Resort, on Maui.  According to the announcement, there will be a total of 131 time-share units on the 40-acre Hyatt Regency Maui Resort and Spa.  John Burlingame, president of Hyatt Vacation Ownership, commented, "Fifteen years ago we determined that there was an opportunity to build an additional project within the overall resort campus and we thought this would be a great addition. I think Hawaii is an important destination for people to buy and exchange to and if you talk to Interval International they would probably tell you that Maui in particular has the most demanded properties in the system."

According to Hospitality Advisors LLC, time-share units represents 15 percent of total resort accomidations in the state of Hawaii.  

Source: Honolulu Star Advertiser, 12-17-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com

Hilton Hawaiian Village Plans to Build Another Time-Share Tower

Blackstone Real Estate Group, which owns the Hilton Hawaiian Villages, has announced that they will be building a new 350-foot tall time-share tower.  The tower will cost approximately $415 million to construct and will be The Grand Islander by Hilton Grand Vacations Club. According to the press release, there will be a total of 418 units in one, two and three bedroom configurations.  Tyler Henritze, the senior managing director for Blackstone, stated, "Hawaii and Oahu, in particular, has been one of the best-performing lodging markets nationally over the last several years. We've had tremendous success partly as a function of the fact that it's been very challenging to build new hotel inventory. We are big believers in Hawaii and Wai­kiki, and we're glad to work in partnership with Hilton to develop a new time share to meet the demands of what seems to be an ever-increasing visitor market." 

Jerry Gibson, the area vice president of Hilton Hawaii, added, "This project will bring the number of accommodation units at Hilton Hawaiian Village to about 4,000. We're excited to see it get started. We've spent the last five years getting ready for this proj­ect by enhancing the rest of the property. By the time that The Grand Islander opens in the next couple of years, almost everything will be brand new."

Source: Honolulu Star Advertiser, 6-3-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com

Time Share Industry Going Strong

Hawaii’s time-share industry has done extremely well over the past few years and experts believe that there is still considerable room to grow.  There are currently 10,201 time-share units in the Hawaiian Islands and another 1,436 are expected to be built by the end of 2013. Even more encouraging for developers is the fact that in 2011 the occupancy rate for time-share units in Hawaii was 87 percent, as compared to the national average of 78.9 percent. American Resort Development Association’s Chief Executive Officer, Howard Nusbaum, stated, “Hawaii continues to be an inspirational destination.  Two kinds of people buy in Hawaii: those who love Hawaii and those who are time-share devotees who realize it’s a powerful exchange. Having Hawaii is like having Boardwalk and Park Place in a Monopoly game.”

Source: Honolulu Star Advertiser, 10-16-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com