We don’t cover vacation ownership (AKA timeshare) very often, but maybe we should. Timeshare represents nearly 15% of Hawaiʻi’s visitor lodging inventory, and with occupancies that routinely top 90%, it’s one of the state’s most resilient lodging segments.
So when Travel + Leisure Co. announced its $343 million acquisition of Yes & Vacations and Spinnaker Resorts, adding seven Maui resorts to its portfolio, one quote immediately stood out:
“We’re not buying these companies for the portfolio. We’re buying these companies for the 100,000 owners.”
Unlike hotels, which wake up every morning with empty rooms to sell, vacation ownership companies already have their customers. Owners return year after year, pay maintenance fees, finance purchases, exchange weeks, and often buy more points over time. The real asset isn’t the resort. It’s the relationship.
The acquisition also highlights another reality Hawaiʻi hotel owners know well. Travel + Leisure specifically pointed to Maui as a market where new development has become increasingly difficult, making acquisitions more attractive than building from the ground up.
Time Share By The Numbers (Hawaiʻi 2025)
- 91.9% statewide occupancy compared with 73.9% for Hawaiʻi hotels.
- 863,954 timeshare visitors, a record high and about 9.1% of all visitor arrivals.
- $173.1 million in state and county taxes paid by participating timeshare properties in 2025.
- More than 5,000 employees work in Hawaiʻi’s timeshare industry across resort operations, sales, and marketing.
