We booked Aulani about a year in advance under a standard reservation. Once we secured rented points, we cancelled our reservation. We saved almost 50%, so IMO, it was well worth it. For a first timer, I'd go through a broker or at least do your due diligence if renting directly from an owner. The owner we chose had references and a contract. The only other "downside" for some is that you will not receive daily housekeeping. There is a room on the DVC floors to dump trash, and you will have either free in-room laundry or free laundry tokens if you need to wash towels.