Fractional Ownership News

Friction Over Fractional Real Estate On Hawaiian Island

Residents of the Hawaiian island of Maui have been debating the future of residential planning in their communities, and fractional and timeshare resorts have received negative publicity amid claims of overdevelopment of rural and agricultural land. Locals claim that affordable housing for residents should be given higher priority than vacation rental units, and their wishes have been incorporated into a written clause in the proposed residential general plan for West Maui county, which proposes that resort development should be discouraged.

Ed Thompson of the American Resort Development Association described the local timeshare industry as valuable contributors to Maui's economy.He asked that a statement in the general plan which reads 'discourage timeshares and fractional ownership' be removed.

Ann Baran, representing Maui Schooner Resort, also asked that the negative statements directed towards the timeshare industry be removed,according to www.lahainanews.com.

18/08/2009