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Whatever
Happened...
Question: What ever happened to the luxurious oceanfront Kaiser estate on Portlock Road in Hawaii Kai? Kaiser parcels
on Portlock
two-thirds soldAnswer: Evershine VIII, a California limited partnership, has bought the second of three parcels that once made up the estate.
The company bought the first parcel, including the four-story boathouse and dock, for $5 million in 1997.
Real estate records filed with the state Bureau of Conveyances show the $9.6 million purchase of the second parcel was closed in March.
The parcel included the legendary mansion, built by billionaire industrialist Henry J. Kaiser and enjoyed by a president and movie stars in the 1950s and 1960s, according to Christine O'Brien of Coldwell Banker Commercial Pacific Properties.
O'Brien would not identify the buyer due to a confidentiality agreement, but state records show the purchase was made by Evershine, a Cupertino-based partnership whose general partner is Everbright I, a real estate investment company.
The 7-acre estate, which boasts marble floors, tennis courts, a swim-up bar and a poodle palace, was completed in 1959. Jackie Kennedy and her children, President Lyndon Johnson, Bob Hope, Lloyd Bridges and other entertainers were among frequent house guests.
Kaiser died at the estate in 1967 at the age of 85.
In 1971 the estate was bought by two millionaire brothers, Alfred and Monte Goldman, whose father made a fortune from inventing the shopping cart. The Goldmans used the estate as a Hollywood-type setting for extravagant parties.
But during a bitter family fight, the brothers sold the estate in 1988 to Japanese billionaire Gensiro Kawamoto for about $42 million. The brothers later committed suicide, each at the age of 59.
In 1994, Kawamoto turned the property back over to landowner Bishop Estate in protest of the $1 million annual lease fee.
After a failed sealed-bid auction in 1997, the estate was split into three parcels.
O'Brien said the remaining parcel includes a guest house. The 81,000-square-foot oceanfront property is offered at $5.875 million fee simple.
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