The 2015 Disney Vacation Club points charts indicated that a small number of Standard View Hotel Rooms at Aulani, Disney Vacation Club Villas would be available to members using points. What wasn't clear was exactly when that option would be offered to members. The answer is: now.
Standard View Hotel Rooms at Aulani are now available to reserve using Disney Vacation Club points.
A small number of hotel rooms with a Standard View have been added to the DVC program to offset rooms removed to accommodate resort expansion. The option of booking an Aulani Hotel Room was introduced in the 2015 points charts but that accommodation is already available for booking dates as early as February 1, 2014.
February 1-7, 2014 available in Aulani Hotel Room
Members with waitlist requests for Deluxe Studio villas may want to jump on DVCMember.com and check availability for their desired travel dates. This option appears to have been added quite recently and there are many dates currently open for booking within the 7 month window.
Thanks to Natasha for the tip!