Yes, in fact I own a timeshare and have since 2000. I bought it after several years of attending timeshare presentations and fending off the salespeople however necessary. I bought an alternating year, points-based week with Club Wyndham, at what came down to secondary market pricing. I accrue a set number of points every other year and can transfer them to the RCI exchange program to extend their use for another full year. The RCI Exchange was included in the original timeshare purchase and has not cost me additionally per year.
Now, I know the burning question in your mind is this…how often have I used the timeshare since I bought it and how much has it cost me to own it? Fair enough. In the first 10 years of ownership, I paid off the purchase price for the week (around $6000) and I used the exchange system (via RCI) once a year or so. The maintenance fees have run anywhere from $30.00 per month to $60.00 per month (currently), which is low in the industry. The RCI exchange fee is generally $200 or less for securing a property almost anywhere in the world (beyond where Club Wyndham owned resorts are located).
In the years between 2010 and 2020, I used the timeshare exactly once. The monthly fees don’t take a break just because I don’t use the benefits. I do admit, I have never investigated renting out the week for a fee (as is possible, and fairly standard for owners that aren’t using their benefits regularly). That’s on me for failing to potentially recoup some of my expenses.
I investigated selling the timeshare – really impossible on every level as no one wants to buy them (you can’t even give them away for free). I could have simply signed the timeshare over to the parent company for free (relinquish ownership and no longer owe the monthly maintenance fee), but that rubbed me wrong for some reason. Stubborn, I suppose. You cannot simply discontinue paying the fee, or the timeshare company can file suit against you.
And so, this year – for the first time in forever – I have booked a week via my Club Wyndham/RCI exchange program to a Hilton property in Waikoloa, Hawaii for my 55th birthday celebration in October 2025 – the Hilton Grand Vacations Club Kohala Suites. And I’m stoked! A beautiful 2 bedroom condo style unit, with a full kitchen, free parking, and use of the sister property, the Hilton Waikoloa Village Resort (one of the Big Island’s most expensive 62 acres properties).
Regardless of all the years of paying $600 or so per year for a benefit I have not put to use (on top of the original purchase price), I am glad I hung onto the timeshare. For $200 plus another $60 or so in local taxes, I could not find comparable accommodation in Hawaii for that week anywhere close to the price.
Having booked over a year out, I can cancel the reservation until June 2025 and have the points used fully returned. The $200 exchange rate is nonrefundable, but that seems reasonable, as cancellation fees go.
I will certainly let you know how the trip pans out, but the ease of booking and confirmation process is still seamless. RCI’s site is easy to navigate, and the resort directory includes all the information needed to decide on your perfect accommodation. Who knows, maybe it isn’t too late to own a timeshare? Mahalo!
