$5,893.32 special assessment for Diamond's Point at Poipu

[copper1406 Junior Member Find all posts View Profile Close copper1406]

This is my first post and I am probably going to get flamed for it but..... The more I hear about timeshares the more I am of the opinion that they are spur of the moment purchases that we all need our heads examined for. I own 16000 points and pay about 1700.00 per year in fees. My home resort is Lake Tahoe. We were just at Poipu where my parents own. They went to a presentation just last month in Poipu and were given the option to buy what added up to one more week for 57,000 dollars. There was no mention of the huge problem the resort has or the exorbitent fees that were coming up. This seems criminal to me!!

I now think of the approximately 30,000 dollars that I have spent and the additional 10,000 in fees over the last ten years and wonder what type of vacations I could of went on.

I know this is a little off topic but I just wanted to add my 2 cents and say that I feel for all of you Hawaii owners that got hit with this news.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

Selectively buying resale at a cheap price at solid resorts results in a different cost / benefit ratio. I do feel for anyone who paid developer prices in a pressure sale situation as they did not get such a good deal. It is even worse when you are under the thumb of a developer like DRI.

This is my first post and I am probably going to get flamed for it but..... The more I hear about timeshares the more I am of the opinion that they are spur of the moment purchases that we all need our heads examined for. I own 16000 points and pay about 1700.00 per year in fees. My home resort is Lake Tahoe. We were just at Poipu where my parents own. They went to a presentation just last month in Poipu and were given the option to buy what added up to one more week for 57,000 dollars. There was no mention of the huge problem the resort has or the exorbitent fees that were coming up. This seems criminal to me!!

I now think of the approximately 30,000 dollars that I have spent and the additional 10,000 in fees over the last ten years and wonder what type of vacations I could of went on.

I know this is a little off topic but I just wanted to add my 2 cents and say that I feel for all of you Hawaii owners that got hit with this news.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

They went to a presentation just last month in Poipu and were given the option to buy what added up to one more week for 57,000 dollars. There was no mention of the huge problem the resort has or the exorbitent fees that were coming up. This seems criminal to me!!

This is one of the points I have been hitting on. When was first knowledge and when did disclosure begin. If this account is accurate, it had not begun yet last month.

Yes, that may be criminal.

Can anyone add to my sense that the rehab is way overpriced? It's hard to find a Hawaii condo building in the $300,000 per unit range. All I've found are under $200,000. Same with pricey areas of FL. For $100,000 per unit (difference), it seems like you could bulldoze and build new.

[conrocks Junior Member Find all posts View Profile Close conrocks]

We went on a convert your deed to points tour. We were told that the points owners would pay less of an assesment than the deeded owners which is near $6K. Have any other owners been told this? We were shown pictures of the damage. I asked how do you know the damage is through out the resort and they replied that they employed some sort of xray to identify it. They said the damage started during huricane Inniki but that was near 20 years ago and it seems like it would have dried out during all the how dry seasons. I think they want to do a major remodel to sell the rest of the inventory. We want to know if there is some owners advocate or rep other than Diamond Resorts? The sales staff looks as though they have had a complete turnover of new people. They said if we converted our deed to points they would roll the assesment in with the sales price so it could be financed @ 16%. It is a beautifull resort we have come here six times. We are lucky or that we bought on the resale market.

[bnoble Senior Member Find all posts View Profile Close bnoble]

The more I hear about timeshares the more I am of the opinion that they are spur of the moment purchases that we all need our heads examined for.

When buying from the developer, this is nearly always true. There are exceptions, but they are rare.

When buying on the *secondary* market, though, things are different. Of course, a secondary-market purchaser is profiting off of someone else's spur-of-the-moment decision. Such is life.

[Carolinian Super Moderator Find all posts View Profile Close Carolinian]

Someone posted a link to some HOA board minutes that covered some of the decision on this matter, and what struck me was their going into executive session to discuss details of the contracts. Having served quite a few years on a timeshare HOA board myself, including during a major hurricane related rebuild, this struck me as very odd. Normally executive sessions are for certain personnel matters and for matters that may involve lawsuits, not for discussing contracts. What is it that they were trying to hide? Does it have something to do with why the price of these repairs is so outrageously high? Is there any insider dealing? When you are dealing with a management and a management-controlled HOA board that willfully defies Hawaii law on provision of membership list to members in order to perpetuate their own control, then inquiring minds want to know.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

This is my first post and I am probably going to get flamed for it but..... The more I hear about timeshares the more I am of the opinion that they are spur of the moment purchases that we all need our heads examined for. I own 16000 points and pay about 1700.00 per year in fees. My home resort is Lake Tahoe. We were just at Poipu where my parents own. They went to a presentation just last month in Poipu and were given the option to buy what added up to one more week for 57,000 dollars. There was no mention of the huge problem the resort has or the exorbitent fees that were coming up. This seems criminal to me!!

I now think of the approximately 30,000 dollars that I have spent and the additional 10,000 in fees over the last ten years and wonder what type of vacations I could of went on.

I know this is a little off topic but I just wanted to add my 2 cents and say that I feel for all of you Hawaii owners that got hit with this news.

Unbelievable that this fact is not mentioned to potential buyers. This has to be misrepresentation or fraud.

The new buyers should have no problem rescinding their contract even after the rescission period has passed when they find this out.

I really feel for the people who own at this resort. I wonder now how many other resorts may have this damage too on Kauai but are not aware of it yet?

[FanFiltration Junior Member Find all posts View Profile Close FanFiltration]

Sadly, I am a new (few months old) owner at The Point at Poipu.

Just got my $3,200 bill that is now due Jan 1st 2012. When I got this deed a few months ago, I was thinking "What a great deal for a yearly ocean view floating week 2br unit". I feel violated to some extent, and I also feel sick...

Not only do I get to pay an extra $2,000 (on top of the normal yearly fees) for the next 3 years due to this SA, I also get to enjoy the peaceful ambiance of major construction work around the resort during our stay! I have a fear that I am going to pay this extortion money, and chances are that this place is going to be closed in a few years.

FF

[petew Junior Member Find all posts View Profile Close petew]

We went on a convert your deed to points tour. We were told that the points owners would pay less of an assesment than the deeded owners which is near $6K.

This is correct, my assesment for 23,000 points (2 weeks/year in ocean view) is just uder $4K. Since the Hawaii collection owns units in four resorts they only pay the $6k assesment on the intervals owned at Poipu and then divide that by the total number of points in the collection to get a per point assesment.

Of course we could get hit again in the future if major repairs are needed at KBR.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

This is correct, my assesment for 23,000 points (2 weeks/year in ocean view) is just uder $4K. Since the Hawaii collection owns units in four resorts they only pay the $6k assesment on the intervals owned at Poipu and then divide that by the total number of points in the collection to get a per point assesment.

Of course we could get hit again in the future if major repairs are needed at KBR.

Or any of the other resorts that are in the Collection or that might be added to the collection. FWIW - a month ago we were told they are nearing completion of deals to add resorts on Oahu (Waikiki) and the Big Island (Hilo area). These would be buildings that currently exist.

[Bloopie Junior Member Find all posts View Profile Close Bloopie]

I believe the owner's meeting in Irvine, CA is going on right now. I hope there's someone on this board that can post the details of the meeting.

[Geckowest Junior Member Find all posts View Profile Close Geckowest]

I believe the owner's meeting in Irvine, CA is going on right now. I hope there's someone on this board that can post the details of the meeting.

We to hope that someone can share the information as were unable to Travel to the Meetings, nice they give you a week to organize.

Please pass on any and all information.

Thanks

[timeos2 Senior Member Find all posts View Profile Close timeos2]

We to hope that someone can share the information as were unable to Travel to the Meetings, nice they give you a week to organize.

Please pass on any and all information.

Thanks

I'm sure the meeting(s) are within the laws regarding notice required. What difference would it make if it were 20 days or two months? Many would still complain about whatever date it was and/or forget / be unable to attend. Annual meeting are often required to give at least 60 days notice yet attendance is often very low.

The problem is NOW - the work will begin SOON - waiting or delaying the meeting makes zero sense from a number of views. If it's THAT important to you you'll make the time to attend. Otherwise it's a very hollow complaint.

[somewhat1 Junior Member Find all posts View Profile Close somewhat1]

5893

Can someone out there tell me the legal difference between a mass action and a class action ?

[FanFiltration Junior Member Find all posts View Profile Close FanFiltration]

There will be a meeting regarding this special assessment in the San Francisco area on Thursday October, 20th. I plan to be there with a fellow owner. I'll take notes, and will be sure to post back here.

DRI The Point at Poipu (water intrusion)
Meeting time / Location:

7:00 P.M. October 20th
Embassy Suites
150 Anza Blvd.
San Francisco Airport Waterfront
RSVP 855-624-4390

FF