A New Study of Hawaii Timeshares
Friday, November 4, 2005
More hotel properties in Hawaii are being converted to timeshares and condominiums, according to a recent study.
On October 27, the Hawaii Tourism Authority released a study, “Analysis of Trends in Accommodations Supply, with Focus on Condominium and Timeshare Conversions“. This study describes how a number of existing hotel units are expected to undergo conversion to timeshares or condominiums within the next several years.
What does this mean? Here are my thoughts:
-For a while, timeshare industry professionals have been saying that Hawaii timeshares are growing in popularity. Now, these claims appear to have been substantiated.
-The study predicts more Hawaii timeshare developments to crop up in the months and years to come. Consequently, more Hawaii timeshares will be available for purchase on the resale market.
-This study is a clear indication that Hawaii’s government is not ignorant of the income-generating potential of timeshares. Vacation tourism is a huge portion of Hawaii’s economy, and timeshare owners make up a significant number of Hawaii’s visitors. Local authorities are no doubt pleased to see an increase in projected tax revenues. For more, visit my post “New Timeshare Taxes on Hawaii’s Big Island“.
-I think this survey could also indicate an overall change in vacation habits. Visitors to Hawaii might be looking to timeshare as a cost-effective alternative to paying top dollar for less-than-ideal hotel accommodations.