ACFT INITIATES TKOF AT WVI RESULTING IN GAR.

Narrative

AFTER COMPLETION OF THE RUN-UP CHKLIST; I MOVED ONTO TXWY AND MADE A STANDARD 360 DEG TURN TO LOOK FOR ACFT IN THE PATTERN. AS I DID THIS; I NOTED (AND POINTED MY FINGER AT) AN ACFT MAKING A DOWNWIND TO BASE TURN. SIMULTANEOUSLY; I HEARD A RADIO CALL; WHICH I THOUGHT WAS FROM THAT ACFT. 2) THAT ACFT SHOULD HAVE BEEN AT LEAST 2-4 MINS OUT; AND SINCE I SAW NO OTHER ACFT; AND I WAS READY TO TAKE OFF IMMEDIATELY; I MADE MY TKOF ANNOUNCEMENT; AND PULLED ONTO THE RWY. 3) AT THAT POINT; I HEARD AN IMMEDIATE WARNING CALL FROM ANOTHER ACFT ANNOUNCING THAT IT WAS ON 'SHORT FINAL.' APPARENTLY; EITHER I HAD FAILED TO SEE A DIFFERENT; LOW FLYING PLANE ON FINAL; OR (MORE LIKELY) THE PLANE I HAD SEEN HAD SOMEHOW GOT ONTO ITS FINAL LEG MUCH FASTER THAN EXPECTED. 4) MY OPTIONS AT THAT POINT WERE TO STOP ON THE END OF THE RWY AND LET THE ACFT ON FINAL FLY OVER ME TO LAND; OR GET OUT OF THE WAY BY CONTINUING MY TKOF. IF IT WAS TO BE THE LATTER; I HAD TO DO IT IMMEDIATELY; AND RIGHT OR WRONG; THAT WAS MY CHOICE. I WAS STILL ROLLING; SO I APPLIED FULL PWR AND TOOK OFF SAFELY. 5) THE ACFT ON FINAL DID A REJECTED LNDG AND LATER PULLED UP ON MY R. AS WE CLBED; I APOLOGIZED TO THE PLT ON THE RADIO. PLT'S COMMENTS: 1) CLRLY THIS INCIDENT SHOULD HAVE BEEN AVOIDED BY BETTER SCANNING FOR TFC IN THE FINAL LEG; AND BY LISTENING TO PATTERN LOCATION RPTS PRIOR TO XING THE RWY HOLD SHORT LINE. 2) MORE DIRECTLY; HAD I WAITED A FEW SECONDS AFTER MY TKOF ANNOUNCEMENT; I MIGHT HAVE BEEN ABLE TO HEAR THE OTHER ACFT'S WARNING BEFORE XING ONTO THE RWY. 3) AFTER THIS EXPERIENCE; I WILL ALWAYS WAIT 5-15 SECONDS AFTER MY TKOF ANNOUNCEMENT; TO SEE IF SOMEONE ELSE OBJECTS BEFORE ENTERING THE RWY.