In a recent article by The Honolulu Advertiser,  Jeff Stone the owner and developer of the Ko Olina Resort--future home of Disney’s new Hawaiian resort--made comments which help shed some light on Disney’s latest resort project. 

In a mildly sensationalistic article, the Honolulu Star Bulletin details how Hawaii residents currently cannot purchase an interest in the Disney Vacation Club when contacting DVC from their homes.  Each US state has its own registration process which must be completed before a timeshare developer (in this case Disney Vacation Development) may market products to its residents.  Currently Hawaii and Nebraska are the only two states in which DVD is not registered to market.

As media outlets trumpet the news that Disney is building a brand new “mixed use” family resort in Hawaii, few if any know what is really happening behind the scenes between Disney & Ko Olina’s developer Jeff Stone.

Disney’s press release was short on specifics, citing additional details scheduled for release sometime in early 2008.  But why all the secrecy?  Could there be something bigger in the works than just a hotel / timeshare?

Walt Disney Parks & Resorts (NYSE: DIS) announced today that the company has finalized plans to purchase 21 acres of oceanfront property on Hawaii's island of Oahu.

The property, located on the island's western side in the picturesque Ko Olina Resort & Marina, Honolulu's premier resort destination, will be home to Disney's first mixed-use family resort outside of its theme park developments. The expansive resort, scheduled to open in 2011, will have more than 800 units including hotel rooms and villas for Disney Vacation Club, which is Disney's rapidly growing timeshare business.