Sadao Minami, an unmarried man from Tokyo, last week purchased the 5-bedroom, 61/2-bath Kahala Avenue home from William Weinberg, according to state Bureau of Conveyance records.
Weinberg is former owner of the Kahala Hilton.
The price was the highest for a single-family home since another Kahala Avenue residence sold for $14.3 million seven years ago, according to Multiple Listing Service data compiled by Prudential Locations Inc.
Most Hawaii homes for sale are listed in the MLS system, which is widely used by Realtors to market properties. But because some transactions aren't included, the Weinberg sale cannot be described with certainty as the most expensive residential deal.
The purchase brings to mind the wave of Japanese speculative buying that fueled Hawaii's last real estate boom in the late 1980s.
But in today's sluggish market, especially at the high end, buyers from Japan and elsewhere are looking for value, not the opportunity for quick profits, real estate agents say.
Realtor Pat Choi, who represented Weinberg, declined to comment on the deal, saying both sides requested that no information be released.
The 5-year-old home, built of concrete and steel and with nearly 10,000 square feet of interior living space, was listed at $15.9 million at the time of sale.
The price had dropped consistently since early 1993, when it went on the market at $29 million.
"It is a magnificent property," said Marysia Coleman, a Coldwell Banker Pacific Properties broker who specializes in high-end homes.
Though the purchase price seems high for today's market, trophy properties always attract interested buyers, Coleman said.
"When the price comes closer to reality, there are wealthy people out there who want to own the best," she said.
The 4505 Kahala Ave. home sits on a 56,511-square-foot lot. With 170 feet along the ocean, the property has one of the largest beach fronts of any Kahala residence.
Among the home's features: a 4,500-square-foot lanai - bigger than many Oahu homes - with a sunken stainless steel and oak bar. The lanai seats 200 people.