A spectacular beachfront residence on Hawaii’s Big Island is poised to break records as the most expensive home sale on the island, boasting an astounding asking price of $49 million. This luxurious 20,000-square-foot mansion, situated along the Kona Coast near the Kukio Golf and Beach Club, is challenging the current real estate pinnacle of $43 million, set in 2021.
The mansion, a sprawling seven-bedroom marvel, has the potential to accommodate numerous families simultaneously. It presents a music room adorned with drums, guitars, and a fully equipped recording studio for music enthusiasts. A home theater awaits movie buffs, offering a perfect setting to enjoy favorite films. For those seeking tranquility, a yoga room opens up to an outdoor meditation garden, and a private path leads to the nearby beach.
This opulent residence belongs to Bandel Carano, a California-based venture capitalist, and his wife, Paula Carano. They acquired the land in 2002 for $7 million and embarked on a venture to create a residence that eclipses the grandeur of the Palace of Versailles. Notably, the mansion has a compelling backstory; during its construction in 2008, the Caranos faced the challenges of an economic downturn. Undeterred by the 2008 recession, they persevered, investing substantial resources and creating a property that surpasses any on the island.
While the Carano property is undoubtedly beyond the financial reach of most, the demand for Hawaii vacation homes remains robust. Despite the mansion’s exorbitant price tag, the island’s median property price hovers around $500,000, emphasizing the enduring appeal of island living. For those aspiring to a residence less lavish than a $49 million mansion, perhaps considering the piggy bank might unveil more feasible options.