Pacific Business News reported that the sale of a 15-acre oceanfront estate with a 10,000-square-foot home above Secret Beach on the North Shore of Kauai closed for $46.1 million, the highest price for a Hawaii residential property so far in 2018, and a new all-time record for a residential property in Hawaii.
The property near Kilauea, named Hale Ae Kai, had been listed in May 2017 for $70 million and had been used as a licensed vacation rental with rates of up to $10,000 a night. The property’s 10,000-square-foot home is actually a compound of four Balinese-style pavilions connected by a covered walkway, with six bedrooms and 8.5 baths and 8,000 square feet of outdoor living space and an infinity pool.
The buyer of the property was a partnership owned by the majority owner of the NHL’s Vegas Golden Knights and former chairman of the board of Fidelity National Financial Inc., according to public documents. The entity listed a sole partner, Bognor Regis Inc., a Florida company whose president and treasurer is William P. Foley II, according to the deed. Foley, who’s known as Bill, is also executive chairman of Black Knight Financial Services. His Black Knight Sports & Entertainment brought the National Hockey League’s Golden Knights to Las Vegas for the 2017-18 season and became the third NHL team to advance to the Stanley Cup finals during an inaugural season.
Foley also owns a number of wineries— his Foley Family Wines owns the Chalk Hill Winery in Healdsburg and the Sebastiani Vineyards and Winery in Sonoma, among others, and lists dozens of brands on its website.
Read the full PBN article here: Vegas Golden Knights Owner Paid Record-Breaking $46M for Hawaii Estate.