Paradise forThe 16,000 square-foot, three bedroom Hawaii Loa Ridge estate of television producer Al Masini has sold for $9.4 million, the most expensive "off-water" real estate sale in a decade, according to property records.
TV producer's Hawaii Loa Ridge
estate fetches highest
off-water price in decade
By Tim Ryan
The unique two-story home at 1133 Ikena Circle has more than 9,000 square-feet of living space and a large lagoon-like pool with lava rock waterfall. It has been on the market for more than a year. The asking price was $12 million, the cost of the construction in 1996, Masini said in an earlier interview.
Named Hiilan, Hawaiian for "In the Arms of Heaven," the estate is believed to be one of the most expensive homes ever built in Hawaii. According to state property records, the highest price paid for a Hawaii home was $10.5 million last year for a beachfront property in Kahala.
The Taiwanese businessman who purchased Masini's 6.5-bath home recently moved to Hawaii with his family. The estate sits on three lots totaling 30,855 square feet. The deal includes most of the furnishings, though Masini removed his state-of-the-art workout equipment from the glass-walled gym and some artwork.
The home's foyer features two grand staircases and a large fountain. The home also has its own elevator.
Masini and his wife, who married earlier this year, have leased a 10,000-square-foot Diamond Head home.
Masini created several hit television shows including "LifeStyles of the Rich and Famous," "Star Search" and "Entertainment Tonight." He also produced the 1998 Miss Universe pageant, which took place in Hawaii, and the short-lived PAX TV show, "Destination Stardom."
Patricia Choi, owner of Choi Realty International, was the agent for the sale.