You do not pay for hours when the airplane is not in use, with mine that means the engine running.
Here I let people fly mine away, we agree a minimum number of hours per day, I usually say two hours per day, but can agree less. Since the nearest islands are about an hour away it's not a grest imposition.
As the only alternatives are commercial flights it works out cheaper than any alternative if going to an isolated island.
So if one was going to say Union Island, park up for a week with two other people it would cost about US$2,000 -2,500 for three people commercial return - say three hours normally US$600, but if one just did the flight direct there and back 7 days it would at 2hrs per day cost a notional 2 x 7 x $200 i.e. US$2,800, but I would rebate unused fuel and oil at US$100 per hour to deduct US$1,400 for a total cost of $1,400 for the trip.
Most other owners would do something similar - I tend to rent my airplane to get it used jot for a profit - the airplane club here would maybe do something similar but with a higher starting price of around US$285 per hour. This can reduce to around US$225 per hour if you join the club, one may not want to do that as one likely ends up owning part of their decades of debt!
Overall it is much cheaper to rent than to buy unless one will be doing several long trips every year.
One is better off joining a small group that has lower usage and would appreciate the use - bigger groups are usually not so keen on fly away at weekendsl