The Facebook Credit system will take the place of Gems in the game, and will be used for future premium item purchases. If you are one of the many players who still have gems to your name, however, don't fear, as Playdom has assured all via the game's fan page that Gems will continue to be valid until you run out:
"Aloha Islanders! We've just introduced Facebook Credits in Tiki Resort. This will make purchasing your favorite items even easier! If you already have Gems, they'll still work until you run out. For those of you having problems with the new system, we're working to fixing these issues. Thanks!"
Tiki Resort is now one of an increasingly large list of games that support the universal credit system. Are you happy about the switch, or did you like having the in-game Gems serve as your representation of real world currency?
[Via Brandy Shaul of Frisky Mongoose]