Just to address some of the points that HDawnH brings up. The best value of point usage at any DVC resort is a 5 day Sunday to Friday Stay. At HH, a 6 day stay leaving off Sat is pretty close as well. Many did buy to stay 7, 10 or 12 day taking into account the various factors including weekend points costs. The exchanges DVC offers are generally to top choices but not always. They leave off other Orlando options (understandable) and at times are are slow to add new resorts. They also do not usually add resort with low availabilityand are currently limited to II only. While I understand why they might want to limit the limited exchange activity resorts, you'd think that DVC members would have a better change of getting these resorts than many others.
One of the misconceptions is that a DVC member can get anything they want in exchange. DVC does have high exchange power but because of internal exchange priority (Marriott as an example) there are freqently others ahead of you in the exchange process. There are also other timeshares that exchange equally as well as DVC. Using DVC as an II exchange vehicle is an expensive use of points and in many cases it's cheaper to buy another timeshare for exchanging and maybe less DVC points for those that are interested in exchanges on a routine basis.
While the other exchange options (CC,
DCL, etc) are interesting and alluring, they are very expensive in points costs as well making it almost always cheaper to buy less DVC points and pay cash for the "exchange" options.
DVC HH is a nice resort but it is not for everyone. In terms of a resort at HH, it is among the top 3 resorts on HH but there are tons of resorts in a better location. The Barony and Grande Ocean (Marriott) are certainly comparable as a resort and any resort on or right at the beach and any resort in Seapines are in a better location. That's not to say that the location is bad, right by Shelter Cove is convenient but not for beach access and the bike riding is much better for the resorts in Seapines as well as few others. I see DVC HH as a main resort ownership being best for those that must be at a Disney resort, those that want to stay length of stays other than 6 or 7 days, those who want different unit sizes routinely and those that want to go only part of the time by having enough points for say every 2 or 3 years and those that just love the resort (and there are many in this scenario). I have stayed there and enjoyed it but there are at least 7 resorts that I'd prefer to stay for a week on HH.
For those that are set on going to HH most every year and staying a week, need a 2 or 3 BR, want to exchange periodically (say every 3-4 years or more), those that want to be on the beach and those that don't want to go to WDW routinely; other timeshares MIGHT be a better choice. Those that travel off season are also better off with other timeshare choices. For those that enjoy staying at DVC-HH and that's what they want, that's fine, they should do what makes them and their family happy.
This is not meant as a slight to DVC or DVC-HH, it's just a dose of reality that there are other choices and that for many, those other choices might be better.