 Why One Napili Way?
With the Gulf War and the declining Japanese market, condo prices bottomed out in 1992 before the Harris' could get One Napili Way to market, so they decided to make the project a vacation rental property. The condos were furnished and ready to rent in a matter of months. Since then, the business has enjoyed a continual upswing, as repeat visitation fuels its growth. In 1997, the state average occupancy rate was around 75 percent, while One Napili Way enjoyed a 94 percent occupancy rate. Les says this stability is due to the facility's exceptional quality and affordable prices.
One Napili Way also has a strong management team, consisting of family members who oversee the operation to maintain the standard of excellence set forth by Les and Jeannette. Daughter Joanne runs the back office. Son-in-law Dan Williams is the manager.
Click Here to visit our activity desk for a broad array of activities, including dinner reservations, golfing, snorkel trips, and whale-watching.
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| In 1998, with the property nearly paid off, the Harris's considered the timing right for the move to vacation ownership. Despite some initial concerns with the industry's image in Hawaii, the Harris's felt that they could bring many advantages to the table and that their clientele surely will benefit from the upcoming transition.
They filed their state documents on March 16, 1998. Because they will be selling direct, without high-priced promotions or middlemen, each unit-week sells for only $19,900 ($9,950 every other year). Their goal is to keep the annual fee (which includes maintenance expenses and property taxes) under $500. Williams thinks that the resort will sell out within two years after its clients are provided with the new ownership opportunity. He also believes that he may have to form a lottery to handle the demand.
"Our rates are more than competitive. They are consistent with our ongoing philosophy of providing the best value for One Napili Way guests and future owners," says Williams. The property will be marketed first to previous guests, who have shown tremendous interest, and then in a national timeshare publication and on the Internet. Direct marketing in inter-island flight magazines is planned, if necessary, but Williams believes the resort will be sold out before that becomes necessary.
"With Maui being one of the top destinations in the world, we know that our property will have tremendous tradability," says Les Harris. "We are very concerned about the quality of the resorts into which our owners would be trading, and this is why we selected Interval International. We believe that with Interval International, the ability to trade into a like quality of property is always possible."
Les and Jeannette Harris were the first in their telecommunications marketplace to offer their clients some of the best rates for the largest service area in the business, a precedent-setting decision. They firmly believe that if you treat others the way you would want to be treated, such treatment comes back to you many times over. Now, as they move into the vacation-ownership business, their philosophy remains unchanged. That will prove to be a good thing for the new One Napili Way vacation owners.
>Learn About Ownership
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