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Buyer Frequently Asked Questions about timeshare in Hawaii.
1. Can foreigners own timeshare in Hawaii?
Yes, anyone is allowed to own Timeshare in Hawaii.
2. Can I buy Hawaii timeshare from a company on the mainland?
Like every other state and country, Hawaii requires any company selling
real estate in Hawaii to be licensed and regulated by the state of Hawaii.
If you buy from a company that is not licensed to sell real estate in
Hawaii, you are putting yourself at risk.
3. What are timeshare resales?
Resale timeshare intervals have been purchased from the developer, and
are now for sale by a private owner. The intervals are conveyed with
all the rights that the original buyer received.
4. Why would someone want to sell their
timeshare?
The reasons for selling vary from seller to seller, but generally they
are no longer using it because their health limits their ability to
travel or their financial situation has changed.
5. Is timeshare an investment?
No! Timeshare has been in the United States for about 30 years. To date,
the resale prices have been less than the prices originally paid to
the developer. While there may be a possibility that timeshare intervals
could begin to increase in value at some future date, timeshare should
not be bought for investment purposes. It is also unlikely that you
would be able to rent an interval consistently for significantly more
than the cost of ownership.
6. Can I rent out my time if I'm unable
to use it?
Some owner organizations allow rental of the interval. You will need
to determine that for each resort. We can provide you with that information
for properties which we have listed.
7. Is financing available?
Generally, no. The seller is usually paid cash. However, in some cases
we can assist a buyer in obtaining financing. Please let us know if
that would be important to you.
8. What is Fee Simple or FS?
Outright ownership of real property.
9. What is Leasehold or LH?
Having the right to use a piece of land for a set period of time (usually
55 years) in exchange for rent. Upon expiration of the lease, the right
to use the land returns to the fee simple owner.
10. What about title insurance?
If you are buying a deeded interest in any real estate, you should require
title insurance to insure your title is unencumbered.
11. Why are resale units so much less
than units being sold by developers?
Developers set their prices based on their costs and a desired profit.
They generally use state-of-the-art selling systems to convince potential
buyers that their price is justified. They typically pay out about 50%
of their gross sales price for marketing and commission costs. Resale
units are priced by their owners. These prices are usually a reflection
of the current price that willing buyers will pay and other sellers
have accepted.
12. How can I be sure the interval I
buy won't have back maintenance fees, taxes, etc., due that I’ll
have to pay?
All of our transactions go through an independent escrow company to
ensure that both buyer and seller receive exactly what the contract
calls for.
13. Why should we buy timeshare in Hawaii?
First, and most obvious (I guess I may be a little prejudiced), Hawaii
is a great place for you to vacation. But even if you have no desire
to vacation in Hawaii, it is still a smart place to own timeshare. One
of the greatest benefits of timeshare is to be able to visit other timeshare
resorts all around the world by trading the time and location you own
for the time and location you would like to use. Because Hawaii is an
international resort area, and is one of the most highly desired vacation
destinations in the world, it is one of the strongest trading timeshares
anywhere. The fact that the inventory in Hawaii is very limited also
contributes to the scarcity, and trading value. More information on
trading can be obtained from two of the major trading organizations,
RCI or Interval International.
14. How long will it take to complete
my purchase?
From the time you submit an offer to purchase it will take from 6 to
12 weeks for the completion of escrow and your ownership to be registered
with the resort. At that time you can inquire with the resort about
reserving a specific time. You would also be eligible to join RCI or
Interval International at that time.
Email
Us your questions.
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