With the current economic downturn, consumers are more diligent with the ways in which they spend their money. This is also the case in the timeshare industry in which some owners consider such property as costly and impractical and consequently, want to get out of their timeshares. At The Point at Po’ipu, most timeshare owners say they are displeased with fees rising more than 50% in two years.
From $695 in 2001, the fees doubled to more than $1400 per week in 2009. Since the majority of Vacation Owners Association and Association of Apartment Owners board members are employees of Diamond Resorts International, timeshare owners feel they are powerless when it comes to rising maintenance and management fees.
Thus, about 250 concerned deeded owners of some 10,000 at the South Shore resort have move forward in their efforts to take back control of their properties. According to one timeshare owner, the number would be higher if DRI would release the contact information of other owners but the DRI said that it is a strict policy not to release the list.
The current economic condition really makes these increasing timeshare fees impractical. As a result, there are more and more owners who want to get rid of their timeshares and some even hire a timeshare transfer company such as the Transfer Smart just to get rid of it. Meanwhile, some owners still hold on to their properties but find ways to justify their expenses. Such is the case at the Point at Po’ipu where some owners speak and reach their voices to the management of Diamond Resorts International.