From Bora Bora to the Maldives, these stilted stunners are the ultimate points splurge. Here's where they're actually worth it.
Why overwater is the ultimate flex
Nothing says 'I've arrived' like stepping straight from your deck into a glass-clear lagoon. But overwater villas are the priciest inventory in any club — so timing and tier strategy matter more here than anywhere.
Where the points go furthest
French Polynesia and the Maldives headline the list, but emerging spots in the Caribbean and Southeast Asia deliver 80% of the magic for far fewer points. Book shoulder season and you'll stretch your allotment across two trips instead of one.