Are timeshares ruining Waikiki?

Talk has slowly turned into action regarding new timeshare towers in Waikiki, and I believe these changes will have a negative impact to the tourism industry in Hawaii.  With 10,000 timeshare units currently in Hawaii, accounting for 13% of total lodging inventory, this number only continues to increase as fewer stand-alone hotels are being built.  Almost every major hospitality company is either revamping existing hotels into timeshare units or developing completely new timeshare properties.