VACATION CLUB MEETINGS
DECEMBER 8, 2022
The meeting was called to order by Glenn Stockton, President of the SOK Vacation Club at 9:00 AM declaring that there was a quorum for the meeting.
After introductions made by Glenn Stockton he called for officers reports. Richard Rodriguez gave the financial report regarding the SOK Vacation Club. There will be a 16.11% increase in the maintenance fees for 2023. Reasons given for the increase were increased employee wages, increase in insurance premiums, supply costs and services, laundry services, utilities and all due to inflation. Soleil Management will continue to oppose property tax increases by Maui County (no discussion as to the effectiveness of opposing those property tax increases).
Gary Mano, VP of Hawaii Operations for Soleil Management was introduced to speak about property improvements. Improvements, WiFi in all rooms, new door locks, digital wall safes, new restaurant operator, upgrades to kitchen and windows in the restaurant, heat pumps for the pool.
Last major renovations were done in 2017. At that time new cabinets in kitchens and bathrooms, new countertops, new appliances and furniture, bedding packages and new carpeting. The renovations were done on time and on budget. Currently reviewing what should be done for the next renovation. Probably will be “soft” goods and possibly tile flooring.
2022 Improvements: Large smart TV’s, 90% installed and pickleball courts installed.
2023 Improvements: Continue with beach restoration involvement, installation of large fans and tinted windows in the penthouse units, upgrade bedrooms with large TV’s.
Beach restoration project: Nine resorts and one private residence participate in the Kahana Bay beach restoration project. An environmental impact study has been approved and completed waiting n ow for Masui County to move the project forward.Next step should be public input and funding proposals.
Treasurer’s report: Basically there is a 14 plus million fund balance. Operating losses were greater than income for a net loss. The large cash balance offset the operating loss. Sands time share owner Tom Kenny questioned whether the financial report was audited? What can be done to increase rental income? Answer was there will be a 7% increase in the room rate for those rooms that are rented out to non - time share owners.
Request for volunteers to act as tellers for the vote count of the election of SOKVC Board Directors. Tom Kenny and Marcia Knoell volunteered. Nominations from the floor for the open board positions were Bruce Rogers, Joseph Erickson, Ronald Suter and Glenn Stockton.
Glenn Stockton discussed the election rules and proxy procedures. A recess was taken for the vote and vote count. Meeting was called back to order with a 47% quorum participation.
Election results: Armstrong 3,017.5, Baker 2,915.5, Erickson 90, Rogers 1,085, Suter 52, Stockton 7.
Armstrong and Baker were elected for 2 year terms.
New business: Resolution of funds roll over - approved. (Just a house keeping measure)
Meeting was adjourned at 10:10 AM.