A luxury home has been listed for $8.8million on a tiny island in Hawaii that is mostly owned by Oracle co-founder Larry Ellison.
The island of Lanai boasts high-end luxury resorts, beautiful beaches, and a Jack Nicklaus-designed golf course.
The 141-square-mile island, located eight miles off the coast of Maui, is the smallest inhabited island in the state. It has no traffic lights and few paved roads.
Ellison, 77, owns around 98 percent of the property on the island and the estate for sale neighbors one of the homes he owns, SFGate reported.
The estate, one of the few properties not owned by Ellison on the island, is perched just above Hulopoe Bay and Sweetheart Rock.
The 4,951-square-foot home, built in 2005, boasts four bedrooms and five bathrooms on a 1.2-acre lot, according to the listing which is brokered by Mary Anne Fitch of Hawaii Life.
The seller ‘spent years and years developing the property. It’s his pride and joy. It’s very custom-built to his style,’ Fitch told the outlet.
The solar-paneled home is carbon-neutral and Ellison plans to use the island, with a population around 3,100, as an experiment for sustainability and environmentally sound practices.
The home’s master suite, located upstairs, has private deck, walk-in closet with laundry, and a large bathroom.
A second suite on the ground floor also has a full bathroom, with a jacuzzi tub, and a walk-in closet with laundry, according to the listing.
The property includes a saltwater pool and spa ,automated by an Omni Logic system for carefree maintenance. A poolhouse, set apart from the house, includes a rain shower and large sauna.
The pool area also has a covered entertaining area for large parties or family dinners, according to the listing.
The home also has two bedrooms downstairs with a large living room and a second kitchen, which provide a private area for visiting guests.
Pathways around the estate can be accessed with two golf carts, included with the purchase, and 40-foot fishing boat can be included with a slip at the Manele Harbor.
Ellison, who owns 98% of Lanai, recently announced that he will live on the island full-time.
The Hawaii Visitors & Convention Bureau has called Lanai ‘Hawaii’s Most Enticing Island’ and the ‘perfect place to go off the grid.’
Only 13 listings, some of which are undeveloped lots, are currently available. Other homes listed for sale on the island range from a 720-square-foot home with two bedrooms and one bathroom for $350,000 to a 1,921-square-foot home with two bedrooms and three bathrooms for $2million.
Lanai’s initial industry was growing and selling pineapples but was developed by David Murdock, the CEO of Dole, as a ritzy vacation destination.
Dole added two Four Seasons hotels and many of the island’s residents shifted to working hospitality-related jobs, Fitch told SFGate.
Microsoft founder Bill Gates and his wife, Melinda Gates, were married at one of the resorts. The penthouse suite at the Four Seasons Hotel Lanai is the the most expensive suite in the state with a posh $21,000 per night price tag, Business Insider reported.
Ellison reportedly bought the two hotels and land holdings from Murdock for $300 million in 2012. He has since updated the resorts and added improvements to much of the island.
One of the island’s former golf courses was designed by Australian golf legend Greg Norman, who recently re-listed his own $60million estate in Florida’s ritzy Jupiter Island community. The course has since shut down and been replaced by an adventure park and zipline.
The Oracle billionaire boasts a massive real estate portfolio and has been called the ‘nation’s most avid trophy-home buyer’ by the Wall Street Journal.
He is worth a whopping $89.3billion and is the world’s ninth richest person, according to Forbes.
Business Insider has detailed his extensive real estate listings, which include residential properties and resorts across California to a historic garden villa in Japan.
