When we were there a couple weeks ago, we were approached twice for timeshares. The first by Reef Village when we stopped at their bar for a couple waters and the second when we stopped at Captain Morgan's for a drink at their bar.
I consider both of them our own fault for putting ourselves in the position to get pitched.
But in the past when I've been approached, I usually tell them either that I'm poor or that I already own on the island. Or if the person is particularly annoying, I tell them that I'm a nudest and make sure that they don't mind a pasty-white fat guy flopping around on their beach.