I can't speak for the TiW card, as I've never gotten one, but for many years I was an AP holder (living in New England) and would only go once a calendar year. The trick to make it work while still going once a year is to alternate the week that you go.
I would start by going to WDW the 2nd week of December the first year, and getting a new Annual Pass. Then the second year I would go a week earlier (1st week of December). The AP would still be valid through the end of the second trip (or occasionally be expiring on the last or next-to-last day depending on the exact circumstances of the trips). It's a little more money up-front, but then your park admission is fully paid for on the second trip. You'd also get the benefit of any AP discounts on rooms on both trips. Then in the 3rd year, you buy a brand new AP and repeat the cycle.
Although I will admit that the every-year cycle of trips ended in 2005. That was coincidentally also when the Magic Your Way tickets were introduced. The savings in buying an AP over two 7 or 8-day MYW tickets (one for each of the two trips) isn't as pronounced as it once was. It's still about $100, though. That's no small change. Add in any discounts, and it's definitely still a good deal.
But as another poster said, occasionally there would be the quiet call of the AP as it sat in my desk drawer, yearning to be set free and migrate back to WDW... Many times I would have a mid-year trip when I had the valid AP.
-Rob