I think it was tried once, and then tried again about 10 years later.There was a time when Disney thought they would position DVC as a destination timeshare business which is why Vero Beach, Hilton Head and Aulani were built. Building resorts to capture Disney fans who wanted to vacation outside of Disney. That didn't turn out to be what buyers wanted. They wanted to buy DVC to stay AT Disney.
My understanding is that has more to do with the lack of people willing to pay cash rates at Poly and the Grand Floridian... Disney can't fill the cash rates, and frequently has to dump excess inventory onto Priceline... They were able to take a break from that at "peak revenge travel", but that is over now...This is why the only new DVC resorts that have been built since have been at Disney and why they are cramming DVC into every nook and cranny at Poly and Grand Floridian. Poly is so crowded now - all the extra DVC rooms (and accompanying guests) have really ruined the vibe of the place as it's simply wall to wall people there now.
Agreed.Building a theme park in Hawaii would be nearly logistically impossible.