Walt Disney Co. received state approval last week to resume time-share sales in Hawaii with higher annual fees at its new Aulani resort in West Oahu.

The resumption occurred following Disney’s decision to halt sales July 15 after realizing that it had significantly underestimated annual fees assessed to unit purchasers.

Disney recently raised the annual fee 33 percent, but needed regulatory approval of a disclosure document provided to prospective buyers. The state Department of Commerce and Consumer Affairs approved the disclosure document Thursday.

Disney will need similar approvals in other states, but resumed sales in Hawaii.

A Disney spokeswoman would not comment on the impact the temporary suspension or the higher fees have had on buyer demand. Disney is not disclosing sales figures.

Aulani opened Aug. 29 at Ko Olina Resort & Marina.

The company began selling time-share units at Aulani in July 2010. Disney said it will pay the difference between its original estimate and restated fee in perpetuity for buyers who completed purchases prior to July 15.

Disney continued to take nonbinding reservations for Aulani time shares after July 15 but was prevented from closing any sales until it had an approved disclosure statement with the higher annual fee amount.

Annual fees are based on the number of points it takes to buy a time share at Aulani. The new rate is $5.73 per point, up from an original $4.31 per point. The higher fee equates to between $722 and $7,380 a year depending on the time of year and unit size and view.

Purchase prices for a time-share unit based on an annual week’s stay at Aulani range from $15,120 to $154,560. Purchase prices weren’t adjusted.

Disney stands to take in about $1.2 billion from Aulani time-share sales based on estimates of 25,000 one-week interests at the project, which has 481 time-share units.

That excludes annual dues, which can be adjusted from year to year and are designed so that time-share buyers pay for operating expenses such as housekeeping, utilities and maintenance as well as insurance, taxes and a Disney management fee.

Disney’s initial mistake estimating operating expenses led to the firing of three executives, including time-share division President Jim Lewis and two other high-ranking executives who previously worked under Lewis, according to The New York Times.

Disney officials declined to talk about the departures, citing a policy of not commenting on personnel matters.