Should I Keep the Timeshare Gifted to Us, Even Though We Don’t Travel to Hawaii?

Timeshares can be a very costly investment (I’m inclined to view it as more of a liability) for many vacationers who’ve discovered just how much the annual costs can add up. Indeed, Hawaii timeshares, in particular, require lofty upkeep and hefty four-figure sums from holders. For those without flexible schedules to fit in a trip on an open date or limit the room in the budget to keep up with maintenance costs and other fees, accepting a timeshare as a gift often doesn’t make a lot of sense.

Of course, timeshares may be right for some people, specifically those who already travel to Hawaii frequently (perhaps for leisure or to be in close proximity to family) and would save money by going with one instead of checking in at a local hotel. That said, for most people who are on the fence or tend to travel to different places in any given year, accepting a timeshare and the costs they entail could be a recipe for a strained budget and hurt relations with the giver of the “gift.”

This Reddit poster was “gifted” a timeshare. They’re looking for feedback from the personal finance community.

In this piece, we’ll look at the case of a Reddit user whose fiancé’s parents are trying to “gift” them a timeshare. On the surface, it seems like an incredibly generous gift. However, looking underneath the hood, such a “gift” may be a costly expense that doesn’t make a lot of practical sense for Reddit and its spouse. Indeed, there are a few red flags when someone “gifts” something that costs a great deal to maintain. The Reddit user said they had a positive experience but found they don’t use it enough to justify the annual costs incurred. Additionally, they’re not the biggest fans of Hawaii trips to begin with. 

As the top commenter stated, the Reddit user shouldn’t accept the “gift,” referring to it as a burden and highlighting that they’re highly unlikely to recover the costs. Given the timeshare recipient doesn’t even sound like a big traveller (they noted Hawaii isn’t a place they normally care to visit), I’m inclined to agree wholeheartedly with the top comment.

Also, it sounds like the financé’s parents may have taken advantage of the couple to exit a timeshare, likely because they don’t use it as much as to justify the costs. At the end of the day, a timeshare is a liability. And those fees need to be paid, or debts will accumulate, and things could get really nasty. Whether or not the couple uses it, they’ll still be on the hook for thousands per year. What’s more, it’s not all too easy to get out of a timeshare that one no longer wants. Indeed, they can be a “gift” that’s hard to sell (even at a discount) or even give away. In fact, some folks may find it costly to get out of a timeshare after their name finds its way on the dotted line.

Would it be rude to deny such a “gift?”

Definitely not. This Reddit user is not the target market for such a timeshare. If that’s communicated to the fiancé’s parents and they’re still insistent, perhaps it’s best to draw some boundaries. Sometimes, there’s a catch with generous “gifts.” In this case, accepting such a gift incurs a hefty financial commitment from which one may get limited value, even after selling it to someone. 

The bottom line

At the end of the day, timeshares are for a very specific type of person: someone who goes to Hawaii often and prefers to stay at the same place rather than a hotel. For someone who doesn’t desire to go to Hawaii, there are some obvious red flags waving. As to whether the fiancé’s parents threw a hot potato the Reddit user’s way remains the big question.