PRESIDENT'S NEWSLETTER - SUMMER 2004


Greetings from Kihei Timeshare Owners Association:

Well its July already and I hope all of you are enjoying your various leisure activities. Maui is in its slow phase as far as tourism, but you should be planning your schedules for the Fall and next year's visits.

As always, Lani and the staff at Oihana are eager and willing to be of service. The website is running smoothly and for those unable to access a computer, the toll free number, (800) 367-5234, is a reliable back-up.

The safes have been installed in most of the units and should be finished by September reservation period. Please let us know how you like this new feature as we hope it adds to your comfort and ease of mind.

Speaking of September, don't forget that the Annual Homeowners Meeting is September 25 th at the California Casino. Registration begins at 8:30 a.m. and the meeting will start at 9:30 a.m. This year three Board positions are up for election. If you are interested, please send your resume to Dick Weaver at Oihana Property Management. Prior to the meeting you will receive an agenda and a proxy form.

 

 

FORECLOSURE PROCEDURE:

During the March Board of Directors meeting the foreclosure of units where Owners have not paid their maintenance fees and their subsequent availability for purchase were fully discussed. The following, outlines our approach for any foreclosure:

  • When an owner becomes delinquent in the payment of the annual maintenance fees they are notified in writing that if payment is not made it will be necessary to start foreclosure procedures. Owners are encouraged through the notice to list their property on our web site or with All Island Timeshare.
  • After several written notices with no positive results, and continued failure to pay the annual fees, an attorney for the Association will start formal foreclosure proceedings.
  • Notification will not only be made to the owner but also in local newspapers.
  • The Attorney then gives the Association the date of sale (auction) and the foreclosure “upset” price which includes the balance due for past maintenance fees and all legal fees.
  • Foreclosure proceedings are open to the public and the upset price is the total amount due. If there are no bids at the foreclosure auction in excess of the upset price the Association purchases the timeshare being sold. Any bids above the upset price will result in the highest bidder being awarded the timeshare.
  • The Association does not bid above the upset price in an effort to purchase the timeshare, since this would be considered an investment of Association funds in real estate which is not allowed under the Association Documents.

WE NEED YOUR INPUT:

Over the past few months we have had inquiries as to the process for the booking of weeks by the membership. In an effort to make this as fair and equitable for all, please respond to Dick Weaver at Oihana regarding the following:

•  Should the maximum continuous weeks allowed a member be limited during our prime season (January 1 st – May 1 st ). If the answer is YES, what should the maximum be?

•  Should RCI exchanges by allowed during this time frame (January 1 st – May 1 st )?

 

DON'T FORGET!!

SALE OF UNITS:  

The website is now available for your use if you would like to sell your week. At present there is a demand for one bedroom weeks. The Association also has two bedroom weeks available for sale at $10,000 per week. Contact the Association through Dick Weaver at Oihana Property Management if you would like to purchase a two bedroom week.

NON-SMOKING POLICY:

The units are all non-smoking, including the lanai area. Signs have been posted and a fine of $ 250 will be levied against any party failing to comply. The attractiveness of our units is everyone's responsibility, so please help us by adhering to this change.

MISCELLANEOUS:

Your Board of Directors has been meeting via conference calls approximately every two months. If you feel you have a pressing matter to discuss, we will be happy to place your concerns on the agenda.  Please forward your ideas to me at enorcutt@rothschildagency.com . The units in Kihei Akahi are our priority and we know it is yours as well. By working together, within the rules, we can all continue to enjoy this lovely experience we call Maui.