Posted on March 21, 2011
Many question if the recent earthquake in Japan, which sparked a tsunami projected to hit Hawaii and parts of California, will affect resorts located in these areas. Fortunately for the timeshare industry these resorts suffered minimal damages. Although massive flood and property damaged was expected, resort owners found that the tsunami only reached heights of 6 feet. What would of happen had the tsunami been 40 feet? Are there any preparation plans in case of another natural disaster? These questions linger in the minds of timeshare owners.
For the locals whom habitat the island of Hawaii know that it’s shared with one of the largest volcanoes in the world, Mauna Loa, nicknamed “Monarch of Mountains.” Not only is this volcano very active, it’s partnered by a second volcano, the most active volcano in the world, Kilaleau. These volcanoes are located on “The Big Island” which is the main island, or tourist portion of Hawaii. Mauna Loa last erupted in 1984, an eruption that threatened to destroy Hilo. While there is no lava flowing from here today, the volcano is closely monitored and threatens to erupt often.
Disaster preparation in select locations like Hawaii are key for resort and timeshare owners. Property damage could estimate if not to millions, billions not including population devastation. When purchasing a timeshare, do higher risk areas provide disaster preparation plans whenever you’re vacationing is what I would ask. Due to the recent events and potentially hazardous future events, some timeshare owners are considering coming up from under their timeshare, which in turn is good for the secondary market.
Next time you are on a resort tour and thinking about purchasing a timeshare, be sure to ask about their policies and plans for a natural disaster.