My personal opinion, and opinion of some others in the rental concerns thread last year, was that they are running scripts to pick up scraps in low value rooms for a better return on investment. Last year when this was being discussed, they had over 350 AKL Value studios for rent and over 200 BWV standard views. I didn't even think to check Aulani, but I imagine they had a ton of hotel/inn rooms and standard views there as well.
If you look at what they are doing, it's primarily all 1 or 2 night stays at AKL for the values (over 50% of their current AKL-Values are 1-2 night offerings), with a large share being 1 night stays. They are renting AKL-Value studios out for $35-$40 a point. Assuming a large share of those are their own points, they are making a decent chunk of change on those value studios. Last year at this time, they had 7 to 10 AKL values for the same date at times.
If they are running continuous scripts to pick up scraps especially at AKL values when someone drops a day or 2 along the way, those points can be at any resort (Aulani Subsidized dues probably still have a decent return on investment). If they are guessing, based on the changes mentioned upthread with things going on in Hawaii, that dues are going to spike in the next few years at Aulani, they may be getting out now before those resale prices drop even more if the dues spike, and then shifting to other resorts to buy up where the price is right.
Aulani probably is an easy target to use those points, because it never seems to get ROFR in comparison to the other cheaper contracts. Let a contract sit on your resale site for awhile, owner starts to get itchy to sell (you as the broker know this), lowball offer and it's through ROFR because they aren't buying them back. Create scripts to snag cheap rooms, rent them out for $35-$40 a point and you're making a good chunk of change.