The Maui News - Time shares in Hawai'i are growing despite a severe downturn in other parts of the country in recent years, the head of the American Resort Development Association said.
CEO Howard Nusbaum said that the state's time shares fared better than most from 2007 to 2009. The statewide occupancy rate for time-share units averaged 87 percent in 2011 as compared with 78.9 percent at time shares throughout the nation, he said. And, he said, time shares in Hawai'i in 2012 are expected to grow.
"Two kinds of people buy in Hawai'i: those who love Hawai'i and those who are time-share devotees who realize it's a powerful exchange. Having Hawai'i is like having Boardwalk and Park Place in a Monopoly game," he said.
Altogether, about 1,436 time-share units are scheduled to be built in Hawaii between 2011 and the end of next year, Nusbaum said. There also is the potential for another 2,336 units, he said.