Add the Embassy and Westin to your list as they are both worth it and above the other choices on your list except for the Marriott. I've been on property at all the choices mentioned except the Westin, it was just a concrete building when we were there in 2002. For February, you should take what you can get and that goes double if you want a 2 BR. Some caveat's include that the Embassy and Marriott only have mini kitchens, more than a DVC studio but less than a regular unit. SOK doesn't have AC. ONW is somewhat away from the action (and more adult oriented) and the Papekea, SOK and Embassy are to a lessor extent away from Kaanapali. The schooner is in South Maui which is good for exploring but quite a distance from the Lahaina area with the restaurants, night life, shopping, etc. For a first trip I wouldn't recommend it due to location but IMO, it's also enough below DVC standards to make it a very questionable exchange. Still, feb is a tough time and especially if you want a larger unit or are set on going then, getting something may be the best option for you.
My recommendations would be the following. If you've never been to HI, go to Oahu for at least 3-4 days, if you have seen Oahu, do a week on Maui and a week on Kauai (or Hawaii). If you have never been to Maui, stay in or near Lahaina, at least for part of the time. Don't forget there are other options to get an exchange besides through DVC. Direct exchanges and independent exchange companies may add many choices including other great resort options and additional inventory access.
IMO, you are very late looking for HI for Feb, 05. Anything less than 12 months is late, IMO. Maui will the the most difficult so you should search for it first and not even look at anything else unless you're prepared to do Maui cash. Definitely talk to the smaller exchange companies like San Francisco Exchange and trading places. TP has an in with ONW and I think with the Schooner. SFX has an in with the Embassy (Maui and Kauai). I think TP also gets a lot of Maui Lei which is near the Schooner but much better, IMO. Go ahead and make cancellable reservation choices now and look for air as this many be far more costly than lodging. If you're thinking of FF miles, you may be too late but at least call today. Good luck.
