Beachfront and in Hawaii hasn't turned out to be sufficient reason for our family to buy yet. We were tentatively planning on buying points at Aulani. (In our case, about 200, since we wanted to get a 2 bedroom ocean view villa for something around a week every three years.) We love Hawaii. We don't mind Oahu, although it isn't our favorite island to visit.
We've run into two issues. The first is that my DM and DSF stayed at the Marriott Ko'Olina last year, in part, in order to scope out the Aulani site. They thought it was fine, but they weren't blown away by the location. It's a man-made beach and lagoon system, and looks it, and lacks (to us) a little of the charm and beauty of the natural beaches. It's also not really near any of things we enjoy doing on Oahu. They did not love the Marriott timeshare, but did think that Aulani looked like it might be beautiful.
We're still probably going to buy a timeshare in Hawaii in the next few years. We're just not certain it's going to be Aulani. We've decided we're going to stay there once, either on our existing points booked at the 7 month point, or on the hotel side, before we buy.
Oh, and the second issue for not buying Aulani now... we were finally matched with a birthmother, and adopted a daughter in December.

With an infant in the family, we're not looking to fly to Hawaii in the near future. (DS is mostly happy about the baby, but we've admitted to him we're not going to take him to Hawaii this year or next year anymore because babies don't do long flights well...)