Maui Schooner’s Journey: How Capital Vacations Helped Preserve a Treasured Hawaiian Resort
The Maui Schooner resort, a beloved vacation destination on Maui’s picturesque coast, has undergone a remarkable evolution thanks to dedicated board leadership and its partnership with Myrtle Beach, SC based Capital Vacations. Greg Gfeller, Board President, and Gary Hyde, Executive Vice President of Hospitality at Capital Vacations, joined TimeSharing Today to discuss this treasured resort community’s history, progress, and future.
A Personal Journey to Leadership
Gfeller’s connection to the Maui Schooner began in 1998 when he and his wife, Ruth, were vacationing in Maui. They discovered the Maui Schooner, a 58-unit property with a “storybook” charm. Drawn by its pristine condition and idyllic setting, they purchased a week and became dedicated visitors.
“It was the perfect place for us,” Gfeller recalled. “Everything was neat, clean, and well-kept — a hidden gem.”
From that point forward, the Maui Schooner became a cherished part of the Gfeller family’s life. “We’ve made incredible memories there,” Gfeller said. “We’ve spent family vacations, celebrated birthdays, and enjoyed countless sunsets on that beautiful lawn overlooking the water.”
Over the years, their children also grew attached to the property. “Our daughter eventually bought two weeks there, and our son did the same,” Gfeller shared. “Now we try to coordinate our stays so we can all be together. In October, we usually celebrate special occasions like our granddaughter’s birthday, and in spring we gather for relaxing family time.”
Gfeller made it a priority to own multiple weeks, including a fixed three-bedroom suite that simplifies planning. “I don’t have to worry about booking windows — I know we can all be together,” he said. “That consistency means a lot to me.”
Joining the Board and Leading Change
The following year, Gfeller joined the board as an advisor tasked with sourcing office furniture. By 2000, he was elected to the board, where he has served ever since. During his tenure, Gfeller and the board confronted financial challenges that threatened the resort’s stability.
At one point, Gfeller recalled, the resort’s condition had deteriorated to the point where some owners described it as being in poor shape, and owners voiced concerns about maintenance falling behind. Maintenance fees were too low to fund reserves adequately, and the property required significant updates.
Recognizing the need for change
Gfeller and the board raised maintenance fees modestly to begin a phased refurbishment process. Rather than shut down the resort for a full-scale renovation, they took a measured approach, leveraging competitive vendor pricing during the economic downturn to complete renovations successfully without excessive financial strain. The result was a fully funded reserve account and a rejuvenated resort that continues to attract loyal owners.
“The improvements were necessary,” Gfeller said. “We knew we had to act decisively, and in the long run, our owners have been grateful for the effort.”
The Capital Vacations Partnership
By 2021, despite their success in property improvements, the board faced a new challenge: a growing inventory of unsold HOA-owned units resulting from aging owners deeding back weeks or forfeiting ownership. As maintenance fees increased to compensate for these vacant units, the board sought a strategic solution.
Capital Vacations stepped in with a compelling proposal and offered to acquire up to 500 HOA-owned units, pay full maintenance fees on those weeks, and contribute significantly to the resort’s reserves. In addition, Capital Vacations assumed management of the property.
Hyde emphasized that Capital Vacations’ approach was built on trust and partnership. “We saw a property with great potential, a committed board, and an engaged ownership base,” Hyde said. “Our goal was to contribute resources and expertise to ensure the Maui Schooner’s long-term success.”
Strengthening Operations and Reserves
The partnership proved highly effective. Capital Vacations contributed funds directly into the Maui Schooner’s reserves, strengthening the resort’s financial position. Capital Vacations also introduced streamlined operations, including improved reservation management and a strategic rental guarantee to maximize occupancy during non-peak periods.
“Our reserves are now 100% funded,” Gfeller noted proudly. “With their contributions and improved rental revenues, we’ve avoided large maintenance fee increases, keeping our resort competitive.”
Gfeller also highlighted the value of ownership at Maui Schooner. He noted that maintenance fees for a one-bedroom unit are approximately $1,000 per week, which he described as competitive with the market and a fair price given the property’s amenities and desirable location. “When you consider the quality of the accommodations and the unbeatable location, the cost of ownership — including maintenance fees — is an incredible value,” he said. “For what we pay, we’re getting a first-rate vacation experience in one of the most beautiful places in the world.”
The relationship also introduced invaluable expertise through their appointed board member, Ken McKelvey. An industry veteran with extensive experience, McKelvey’s guidance has been key in helping the board make informed decisions about operations, improvements, and long-term planning. “Ken’s knowledge of the timeshare industry has been incredibly valuable,” Gfeller said. “His insights have helped us navigate important decisions with confidence.”
The partnership also introduced practical solutions, such as improving laundry services. Capital Vacations advised the board to bring laundry in-house to mitigate rising costs and address quality issues with the island’s limited laundry vendors. “That decision alone saved us $100,000 annually after a two-year payback period,” Gfeller said.
“That kind of guidance goes beyond basic management,” Gfeller added. “Capital’s insights have helped us make meaningful improvements that directly impact our owners.”
Owner Engagement and Communication
Keeping the resort’s owners informed has remained a priority. The board continues to produce the Maui Schooner Scoop newsletter and has enhanced the resort’s online presence through Capital Vacations’ digital platform. Weekly on-site meetings allow owners to connect directly with management, ask questions, and express concerns.
“We have long-term owners who are passionate about the resort,” Gfeller said. “Capital Vacations has been flexible, especially when it comes to accommodating our high-season owners who have specific scheduling needs.”
Given that many Maui Schooner owners do not live in Hawaii, digital platforms have played a critical role in keeping owners informed and engaged. The resort has maintained a strong sense of community by providing consistent updates on property improvements, policies, and special events.
A Resort with Strong Roots and a Bright Future
Today, the Maui Schooner maintains a robust occupancy rate of approximately 82-83%, with a healthy balance of dues-paying owners, club members, and rental guests. This balance has kept the resort financially sound without placing an undue burden on owners.
Capital Vacations has worked closely with the board to introduce an online resale platform. This initiative supports the resort’s goal of maintaining a stable ownership base without relying excessively on transient rentals.
Hyde stressed that the success of the Maui Schooner reflects a strong partnership. “Trust and communication are key,” he said. “We’ve worked through challenges, and our shared commitment to preserving the resort’s charm and financial stability has strengthened our relationship.”
Looking Ahead
The Maui Schooner continues to evolve to meet the needs of its owners and guests. Plans are underway to replace aging tile floors with durable vinyl plank flooring and to remove outdated popcorn ceilings. Appliance upgrades, refreshed furnishings, and ongoing property improvements keep the resort modern yet true to its roots.
“Our owners have high expectations, and rightfully so,” Gfeller said. “We’ve committed ourselves to thoughtful updates that enhance the resort’s comfort without losing its charm.”
While severe weather risks in Hawaii are always a concern, the board has taken steps to mitigate potential damage. The property has invested in high-impact windows, storm-rated doors, and landscaping adjustments to reduce erosion risks. In 2023, when wildfires devastated parts of Lahaina, the Maui Schooner remained safe, yet the board offered unused linens, blankets, and other supplies to support displaced families.
“I’m fiercely proud of how far we’ve come,” Gfeller said. “Our reserve funds are healthy, our owners are happy, and our partnership with Capital Vacations is thriving. We’re prepared for the future and ready to continue delivering memorable Maui vacations.”
Hyde echoed this sentiment: “We know that owners want a carefree vacation experience. By working together, we’ve ensured that the Maui Schooner remains a place where families can create lasting memories for years to come.”
To learn more about Capital Vacations resources and solutions, visit CapitalVacations.com