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12 October 2011
Posted in
Aulani Villas News
Disney Vacation Club has provided an update on the status of Aulani sales and licensing, as well as clarification on aspects of the dues subsidy for current owners.
Disney Vacation Development continues to work with individual state licensing boards to resume selling points at Aulani, Disney Vacation Club Villas.
In late September the Orlando Sentinel reported that Disney had received approval from the state of Hawai'i to resume sales with a 33% increase in its 2011 annual dues calculation. In the weeks since that report the state of Florida has granted approval to resume sales under the revised terms. Buyers who reside in either of those states or who were present in either Florida or Hawai'i when agreeing to purchase should expect to see their contract move forward soon.
According to a Disney Vacation Club spokesperson, buyers who "entered into or received a purchase agreement" for Aulani prior to July 27, 2011 will pay the original dues of approximately $4.31 per point for 2011. Disney Vacation Development will subsidize the difference between the $4.31 figure provided at the time of purchase and the revised dues of $5.73 per point.
Early buyers will receive the annual subsidy for the duration of their Aulani ownership. Disney intends to adjust the amount of the subsidy on an annual basis to reflect increases in the total dues. Adjustments will be comparable to the rate at which dues increase on a year-to-year basis.
Disney Vacation Club intends to contact all current owners and contracted buyers regarding the dues credits and other Aulani-related issues, however state licensing requirements have thus far delayed the process.
Those who placed a deposit in Hawai'i and Florida will soon receive a notification in the mail letting them know that they can complete the Aulani purchase. Existing Aulani owners in Hawai'i and Florida will receive amended documents and a letter explaining the changes.
Members and those with purchase deposits residing in other areas will be contacted as filings in their state are accepted. The licensing and communications delay does not in any way jeopardize owners' eligibility to receive the annual dues credit.
Still unclear is how Hawai'i's Transient Accommodations Tax will be calculated. A resort's annual dues rate is one component of this state-mandated tax, which raises the question of whether early Aulani buyers will have their tax payments subsidized as well. At this time Disney Vacation Club is still researching tax implications and will communicate the policy to members at a later date.
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