[ MOST EXPENSIVE HOME ]

PHOTO BY AUGIE SALBOSA / CHOI INTERNATIONAL With an asking price of $10 million, this home at 3222 Diamond Head Road is among the most expensive being sold in Hawaii.

Kauai house lists
at $46.5 million

A bayside mansion on 170 acres proves
the exception in a residential market
that generally tops out at $20M

Hawaii's most expensive home on the market last month was on Kauai. The $46.5 million, six-bedroom, 7 1/2-bathroom home in the Kawaihau area of northeastern Kauai is surrounded by more than 170 acres of land. With frontage along Papaa Bay, it is in a valley with a meandering stream, spring-fed pool, waterfall and panoramic views.

The hale and hearty of net worth don't shy away from such asking prices.

Realtor Barbara Sloan of Coldwell Banker Bali Hai Realty Inc. confirms there has been interest in the offering.

"Frankly, it's a good buy based on the improvements that are on the property. There are multiple parcels, and for today's market it represents a phenomenal buy," she said.

The gated compound was at the center of an access controversy sparking litigation between the seller, Mandalay Properties, and a group of activists which Sloan declined to discuss.

PHOTO BY AUGIE SALBOSA / CHOI INTERNATIONAL The 4,457-square-foot main residence features a beautiful kitchen plus three bedrooms and 3 1/2 baths.

The highest asking price on Oahu was $20 million, for the home and the 1.3 fee-simple acres at 4505 Kahala Ave., once owned by Kahala Hilton owner William Weinberg. The five-bedroom home has seven full bathrooms, a half-bath, a five-car garage and two-bedroom staff quarters along with the de rigueur swimming pool and 170 linear feet of ocean frontage.

Also on Oahu, $18 million would secure a buyer one of two choices: a historic Diamond Head estate or what is billed as the newest home in Portlock.

The latter is a year old; the former is 76 years old and is called Villa Noela. Both are fee simple, have five bedrooms and a minimum of five full bathrooms, swimming pools, views and enough other amenities to make a dreamer drool.

The maximum-moolah Maui homes were each listed at $20 million, one in Kaanapali on an acre of land, one in Wailea-Makena on a little less than an acre.

PHOTO BY AUGIE SALBOSA / CHOI INTERNATIONAL The living room offers a spectacular view. The property rests on a 21,623-square-foot lot and has a separate guest cottage and caretaker's apartment.

The oceanfront Wailea home, at a little more than 7,300 square feet, has seven bedrooms and 7 1/2 bathrooms.

On the Big Island, a $13.2 million price tag for a South Kohala home comes with four bedrooms, 5 1/2 bathrooms and the rest of the amenities built for the private enclave of 48 homes.

On Lanai, one 2.52-acre plot of shoreline land near Manele Bay will set the buyer back $15 million, while an under-construction speculative home at Manele is expected to fetch $4.1 million when it pops onto the market.

PHOTO BY AUGIE SALBOSA / CHOI INTERNATIONAL The home, being offered by Choi International, has expansive views of the ocean, pool and tranquil gardens.

Prices on the condo market swing widely as well. Not yet built, a 4,300-square-foot penthouse studio in Hokua on Ala Moana was listed at $4.75 million, while condos of different sizes on Lanai were priced at between $1.4 million and $2.4 million.

Kauai's costliest condo, with two bedrooms and two bathrooms in Poipu's Whaler's Cove development, was priced at $1.6 million. Luxury developments in the South Kohala area of the Big Island have also included condominiums, and unit No. 5 at Estate Villas at Hualalai was going for $7.8 million.

Naturally, there can be a gulf between asking price and selling price.

"A deal is not a deal until it's a deal," said Honolulu Board of Realtors researcher Harvey Shapiro.