Kamehameha Schools is also subject to the older rules for its Our Kakaako community, where about 550 below-market homes need to be produced. Luxury, Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. This home features a private elevator, unsurpassed 360-degree views, a private rooftop infinity pool, sky lanai with outdoor kitchen and pool house, and 4-car garage. It found million-dollar homes are most prevalent in California and Hawaii, where nearly 1 in 4 are in that price range. Your email address will not be published. Please switch to a supported browser or download one of our Mobile Apps. Listing provided by Hicentral MLS $21,000,000 76 acres lot - Active 20 days on Zillow 383 Kalaimoku St, Honolulu, HI 96815 COLDWELL BANKER REALTY. Its unlikely developers could actually produce and sell $1 million homes to satisfy an affordable-housing condition under state and county requirements typically tied to projects that receive zoning changes, development bonuses and fee waivers. In 2013, critics of a planned workforce housing tower in Kakaako called 801 South Street B assailed the project in part because its most expensive below-market unit was forecast to sell for $692,300 under an HCDA formula that allowed a two-bedroom unit to be priced as high as $715,213 at the time for households earning up to 140% of the median income. Property ownershipis public information, but many of the billionaires and millionaires on our list have set up walls of privacy between themselves and the tax records. Rounding out of top ten most expensive Honolulu homes for sale is this secluded waterfront Paiko Lagood home. For example, a $1.6 million-dollar listing in Los Angeles would not be considered a luxury home. Since the protective reef provides year-round calm water, many are able to enjoy the numerous ocean activities including, boating, swimming, snorkeling, fishing, windsurfing, and biking. if (d.getElementById(id)) return; Post a major island flood event in April, homes and beaches past Hanalei have become inaccessible to the public; however, if youre interested in viewing this home, Contact me as vehicle passes are required. of indoor/outdoor living, 9 acres of property the most land area offered in Haena in 9 years, 100s of beachfront footage on Tunnels Beach. Required fields are marked *. in Agents, Architecture, Beachfront, Decor, Design, For Sale, Hawaii, Interior Design, Kauai, Lifestyle, Luxury, Market Intelligence, Market Trends, Marketing, Moving To Hawaii, Ocean View, Oceanfront, Acreage, Zillow, Inc. holds real estate brokerage licenses in multiple states. Shown is a 4-bedroom, 3-bathroom Mililani Mauka home that recently sold for $1 million. Each sale listing includes detailed descriptions, photos, amenities and neighborhood information for Hawaii. With 11,076 square feet, 8 bedrooms and 9 and a half bathrooms, this is an unmatchable piece of beachfront real estate in Kapalua is located on almost a full acre. Professional protocol requires agent to set up an appointment with the South Side, May we suggest a car dealership? [Click here for more information](/info/mls-disclaimers/#mls_726) Listed for $70 million, the most expensive property in Hawaii is a sprawling Kilauea estate situated atop a seaside bluff on the north side of the island of Kauai. Japanese corporation Mint Yugen Gaisha picked this one up for $29 million in 2006, making it one of Hawaiis largest residential sales of the past decade. Property listed by Coldwell Banker Pacific Prop. For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Seventy-eight Hawai'i sales closed in that stratosphere in 2021, more than three times the number that sold in 2020. The affordable home price ceiling is based in part on a 3% interest rate and a 5% down payment. For $2 million dollars you can become a homeowner in one of Mauis most sought-after locations, 30 Lewa Lani Place. Its summertime and that means a prime time to look into buying a home on the beautiful island of Maui. Shown is Kakaakos The Collection condominium tower where five 2-bedroom, 2-bathroom units in the tower have sold for $1 million since September. Dreamy waterfront property Zillow IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Locations, LLC may only show properties marked "Active" and "ACS". Seven of the 25 most expensive homes in the state are located within one of the three divisions of this Kona Coast oasis. 1995-2016 Honolulu Board of REALTORS. Congratulations, you have access to Hawaii's most comprehensive Real Estate Search! Moving here? Kukio is a relatively recent development, an even more exclusive successor to the already spectacular Hualalai resort, next door, but it already figures prominently on this list. The home's great room boasts inspiring ocean views. Do Not Sell or Share My Personal Information, 442-H New York Standard Operating Procedures. Oceanfront Home +Vacation Rental Cottage, Former home of prominent architect, Elliott Rosenblum, 1,000-ft. driveway into your 4,395 sqft. I got married here on Kauai in June to my husband, Derek, and want to share the loving experience with you! Information herein deemed reliable but not guaranteed. In most cases, the property details are also based on publicly available city and county data. From plantation towns to planned communities, Central Oahu has its share of secret spots, a bumper crop of bowling alleys and neighborhood eats. Read my blogs to learn about the newKilauea Lighthouse Village and Real Estate in Kilauea. Click the button below and we'll send you a link to reset your password. This Hawaiian home may cost $4,495,000, but it's surely worth every penny. Aptly named after the quiet waters of the Anini lagoon, Wailana Mlie is a truly timeless Polynesian estate. Check out my beautiful Kauai wedding. We're able to accomplish this . 11 stunning island and beachfront homes for sale across the US for under $1 million. 3215 Diamond Head Road, Honolulu|MLS #:201709585. Edit: I just googled the property tax rate in New Jersey (2.49%) and Hawaii (0.28%). This figure is then adjusted in a way that results in Honolulus median income being defined by family size, including $88,200 for a single person and $125,900 for a family of four. other brokerage firms. Vacation Rentals. Hey, it doesn't hurt to dream, right? Short has been reported to be an extremely private person; hes managed to stay largely out of the spotlight as the president of Lone Star Funds, a global investment firm that manages private equity funds worth $24 billion, but not as owner of Sunderland A.F.C., a soccer team in England. Listing provided by Hicentral MLS $23,000,000 6 bds 6 ba 4,947 sqft It belongs to Carol Ann Bartz, the president and CEO of Internet service company Yahoo! Ocean, waterfalls, and sunsets, are only what nature has pleasantly provided. All rights reserved. With two homes sitting atop 2.5 acres in the prestigious Makiki Heights neighborhood, this property offers the largest land area on our list. Ft List Price: $2,100,000 This, of course, isn't the first home in the area owned by O. The New York City metropolitan area where an apartment . The place remains impressive, though. Your friend will receive an e-mail from you with a link to view the details of this property. The lavish lair has officially sold for $46.1 millionfar less than its asking price, yet still enough to set a record as the priciest single-family home ever sold in the state. Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. listings last updated on 2023-03-04 06:12:05 PST. There are several others, including the following million-dollar homes in the Aloha State. This is one of the few properties on our list that sold for less than its assessed value. That kept things simple, but meant overlooking a few fabulous estates that comprise multiple parcels, such as the 174-acre Tara Plantation on Kauai, which sold in 2009 for $28 million. Using public records collected by Title Guaranty Hawaii, weve compiled a list of Hawaiis priciest homesexclusive compounds filled with sprawling swimming pools, personal tennis courts and stunning oceanfront views, places for which the annual property-tax bill runs a cool half-million. The dollar volume of $1.1 billion was 158% more than the year before, according to the Compass report. This five-acre west-Maui estate is located in the exclusive gated community of Pu'unoa Estates. 75-5916 Alii Drive This home ( MLS# 250280) is old Hawaii-style with a covered lanai running the length of the home. Apr. Sorry for the inconvenience, Locations LLC. The prevalence of million-dollar homes can vary significantly by metro. Kihei Beachfront Real Estate 1470 Halama Street. Leave your opinion here. This Hawaiian home may cost $4,495,000, but it's surely worth every penny. Nearly half of the 20 homes that sold for $10 million or more last year on Hawaii Island were at the exclusive Kkio Golf and Beach Club, including a $34 million house that was among 2021s top five statewide. Please contact your agent for access to LocationsHawaii.com. Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right Loading Home Buying Calculators Indeed, the "art farm" is unlike anything you've ever seen before. Michael G. McCafferys $3-million house sits alone out on a point in Makena, surrounded on three sides by ocean. Oceanfront, It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Think of it this way: This 17,408-square-foot interior is almost half an acre of house. If you've been dreaming of moving to Hawaii, then you might want to make sure that you have a big enough budget. of Maui and should not be relied upon without independent verification. Listing provided by Hicentral MLS $19,500,000 4 bds 6 ba 4,228 sqft - Active 285 days on Zillow 4607 Kahala Ave, Honolulu, HI 96816 HAWAII LIFE. Featured properties may or may not be listed by the office/agent presenting this brochure. Hawaii County might take a page from Honolulu's playbook and tack an extra property tax on multi-million dollar residences. Telephone: 808-529-4747. Property listed by Hawaii Life Real Est. This modern 1.43-acre oceanfront estate claims 185 linear feet of beach frontage and includes a tennis court, pool and Jacuzzi lush set among lush tropical landscaping. Share this property by completing the the form below. 5403 Kalanianaole Highway, Honolulu|MLS #:201628812. Other features include 50-foot-long glass windows, a practice green, a barbecue area and a state-of-the-art audiovisual system, says local architect Toshi Suzuki, who designed the mauka side of the property in 2000. This 10,000-sqft grand penthouse is the ultimate in luxury living. 2445 Makanano Ano Place | MLS 622093 | Courtesy of Re/Max Kauai. Log In. The distribution of these palatial properties is also illuminating. Enjoy this free story! The amount of dwelling coverage makes a big difference in rates. d.getElementsByTagName('body')[0].appendChild(js); Los Angeles was the top market with 628 properties selling for $10 million or more, followed by New York Citys Manhattan with 326 transactions. The current U.S. median home value is $182,500, according to Zillow. Listing provided by Hicentral MLS $23,000,000 5 bds 7 ba 8,795 sqft - Active 38 days on Zillow 4679B Kahala Ave, Honolulu, HI 96816 HAWAII LIFE. Brokerage. I,m sure 35 Million Dollar Home in Miami will let Zelensky have his Sun Tan. Owner William Kevin ONeil got his moneys worth, though; Oneloa Beach is one of Mauis nicest white sand beaches. TLDR: Property taxes paid on a million dollar home is a useless metric since a million dollar home in some jurisdictions (e.g. Deepak Neupane, HCDA executive director, said the agency tries to ensure that below-market home prices are affordable to households that qualify for interest rates above published averages because many people dont qualify for the average rate. Each of our real estate listings provides comprehensive information on essential details including property features, price change, transaction history, and amenities. Chikako Takeda scored this Kahala Avenue monster for a thrifty $9.7 million in 2002. Copyright 2023 HiCentral MLS, Ltd So the new, post-2020 rules affect only a small proportion of veterans and even fewer of those who are still serving. As an owner, you receive exclusive access to hiking and equestrian trails in the National Wildlife Preserve. Its a 3 bedroom, 3 bathroom luxury property with 2,900 square feet inside but 12,118 square footage of land. According to Curbed, she purchased a 23,000-square-foot home also in Montecito for a reported $50 million back in 2004.The home was . Weisel has been described by the San Francisco Chronicle as the alpha male of Wall Street West with an uber-competitive streak. Its a drive that extends to athletic pursuits, as well. When it comes to outrageous real estate, its all about the Big Island, where youll find nine of the 10 most expensive homes in Hawaii, all strung along the Kona Coast. The infinity pool and outdoor covered lanai are completed by a poolside barbecue and entertaining area. Overall, Koa Ridge may produce affordable housing geared for households earning up to 140% of the median income. Designed by award-winning architect James K.M. Schutter was the kind of guy who would drive around town in a Rolls Royce convertible with the license plate Sue Em.. This Hawaii Kai home, situated in the Triangle neighborhood (adjacent to prestigous Portlock), offers many special touches, including sandstone wall relief features, professional-grade home theater with reclining leather seating for eight, a seperate ohana cottage, water features and many home automation features (including lighting, doors and fans). What wows me: Large land offering at nearly 22 acres with a breathtaking, private view. Remember to save your search to receive email alerts when new listings that fit your . The dollar amount listed for each house is the countys most recent assessment of its value, for tax purposes. Nationally, 2,300 residential properties across 30 markets closed for $10 million or more in 2021, more than double the transactions in 2020. Listed for $30 million, Idaho's new most . This Wailea property, known as sandy surf, isnt used as a full-time residence. Expanding the scope to all of Hawaii has raised the stakes considerably: While the top property in 2005 was assessed at $15.2 million, that number wouldnt even get you on the bottom rung of this years list. Offering three bedrooms, two bathrooms, and an open concept modern design, this stunning home that boasts a view of the nearby valley hit the market for $1,888,000. We assembled a similar list in 2005, limited to the City and County of Honolulu. http://locationshawaii.imgix.net//locationsimages/logo.png. Sarofim, an Egyptian-born money manager who is known as the Sphinx, bought the house in 1999 for $15 million, and has since made extensive renovations to the aging Kahala Avenue property. Christian Weis, 6 Beds 5 Baths 6,000 SqFt Residential MLS # 1630071. What is Todd Rundgrens property worth on Wailapa Drive? Overlooking the water just across the bay from the Mauna Lani Resort, this wedge-shaped Kona property belongs to Toyota Motor Sales USA. For $1 million, you could purchase this 1,600-square-foot, four-bedroom craftsman between North Beacon Hill and Judkins park. Copyright 2023 StarAdvertiser.com. 1. 4408 Lawai Rd, Koloa, Hawaii MLS #664853 View Listing $24,000,000 Active 4 Beds 4 Baths 0.52 Acres 3,706 ft Residential 4421 Malolo Rd, Hanalei, Hawaii MLS #666820 View Listing $15,000,000 Active 4 Beds 4 Baths 0.8 Acres 3,706 ft Residential 4914 Lawai Rd, Poipu, Hawaii MLS #664619 View Listing REDUCED 6% $14,500,000 Active 3 Beds 3 Baths As the pinnacle of elegance and privacy, the exclusive listings of West Maui offer the kind of luxurious lifestyle that few are privy to. Oahu currently has 18 active listings for single-family homes priced at $10 million or more. Prices in the initial affordable subdivision dubbed Malina have not yet been set, but would largely align with city guidelines allowing homes priced from $400,000 to $700,000 for households with two or three people earning up to 120% of the median income. As your local North Shore experts and one of Kauais top-producing and most reputable teams, we have over 35 years of experience to guide our clients in making sound and smart decisions. Cities With the Most Million-Dollar Homes - 2021 Study - SmartAsset For this 2021 study, SmartAsset looked at data from the 150 largest U.S. cities and identified which ones have the most million-dollar homes. 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That's up from 4.8% (3.5 million . Cheng & WCIT Architecture, along with internationally acclaimed interior designer Tony Ingrao, this home rivals the great penthouses across the globe. Locations LLC offers thousands of Hawaii real estate listings from each major island including Oahu, Maui, Kauai, Molokai, Lanai, and the Big Island. Aloha Hawaii community !! 6 bedrooms * 9 full and 2 half bathrooms * 11,938-sq.-ft. interior * 33,306-sq.-ft. lot. $1,395,000. More than half of the top 25 homes in Hawaii are located on the Kona Coast, and theyre all in private resort communitiesKukio, Mauna Lani, Mauna Kea and Hualalai. Oaktree manages $47 billion worth of investments, according to Forbes, putting him in good company with his wealthy neighbors. This sleek Kona abode belongs to Sandra Kurtzig, who Entrepreneur Magazine called the first lady of computers. Kurtzig founded ASK Computer Systems out of her apartment in 1972, selling inventory-tracking and business-information software, and turned her tiny startup into a heavy hitter with 91 offices in 15 countries. This year, Forbes ranked Michael Dell as the 37th richest person in the world, with a net worth of $13.5 billion. This stunning property, though, sits all by itself on the point of Hualalai, with a panoramic ocean view. by Emmy Favilla BuzzFeed Staff Alabama $1.09. Real Estate, Keep your eye on this property! According to Locations, million-dollar homes have been shrinking the fastest in Hawaii Kai by 20% over the past five years. This resort-like property includes a caretaker's cottage and is fully furnished. This circumstance exists under guidelines of a state agency that helps developers produce affordable housing and occurred as mortgage interest rates fell to very low levels in recent months. Of course, you'd surely want to spend all of your time outside soaking up both the sun and the view. We will not rent, share, or sell your information. The home is on the market for $799,000. Charles Kip Thieriot, now retired, is a member of the prestigious family that founded and ran the San Francisco Chronicle, and was himself the president of Western Communications. At about eight times that price, some $1.5 million homes offer uncommon amenities, such as sweeping ocean views, grand. Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. LAURA RUMINSKI/West Hawaii Today A luxury home on the beach at Kukio. At $24.5 million, a home with six bedrooms and seven full and two half baths on an acre of land. For a whopping $23.5 million, the new owner of this home will find it fully furnished. Here are some comparable home values that earn a luxury designation: $1.6M United States; $2.1M Worldwide; $4.0M in Los Angeles; What counts as a luxury home varies regionally here in Southern California, too. Hawaii's most accurate home valuation tool. By NANCY COOK LAUER West Hawaii Today | Friday, May 1, 2020, 12:05 a.m. Share this story. Hawaii) will have less property taxes than a $250k home in other jurisdictions (e.g. The dollar volume of $1.1 billion was 158% more than the year before, according to the Compass report. The important questions to ask when choosing a lender for your mortgage. The trademarks MLS, Multiple Listing Service and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Read more. That said, this figure is higher than in the nation's 50 largest metros, where an average of only 4.71% of homes are worth $1 million or more. The owner of this lavish Kona estate is, to our knowledge, the only one to have owned two of the houses on this list (even if it wasnt simultaneously). There are only about five single family homes and 25 condos selling for around $1 million. Not willing to change her identity to be part of the industry, Mahina Florence is at the height of her career because of her flawless Hawaiian complexion, strong athletic build, and friendly aloha spirit. To start your real estate search, simply enter your property type whether a home, condo, townhouse, or vacant land and then your specific location. How things have changed. Golf green & bunker practice area designed by American Golf Course Architect, Custom home offered for the very first time, 1.46 Acres, the largest acreage offered in the exclusive Kahalawai neighborhood. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed. Talk about ritzy stretches of beach: This Kapalua mansion is next door to Christian Riese Lassens house (No. The main home features 7 bedrooms, 3 of which are master suites. StormoGipson is referring largely to guidelines of the Hawaii Housing Finance and Development Corp., a state agency that helps private developers produce affordable housing. 85 on its 2009 list of the 400 richest Americans, with a net worth of $3.5 billion. She got a lot for her money; although you cant see it in the photo, the house is twice as long as it is wide. At the most recent Ward Village tower to include below-market condos, studios were sold in 2018 for $286,000 to $443,000, along with one-bedroom units for up to $487,314, at the project called Aalii, which is nearing completion under HCDA guidelines with prices linked to incomes ranging from the median to 140% of the median. Copyright, 1995-2015, REALTORS Association of Maui, Inc. All Rights Reserved. Hawaii County assesses the house alone at $28.5 million, but the better part of the $61 million valuation of this property is the land itself. Millionaire households: 47,279 Total households: 1,131,470 Concentration of millionaires: 4.18% Rank: 51 (Unchanged from last year) Median income for all households: $44,717 (U.S. median: $61,937). Information is deemed reliable but not guaranteed. Read the full story with our Print & Digital Subscription. Brokerage. The trademarks MLS, Multiple Listing Service and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Originally built by former Kahala Hilton owner William Weinberg in 1988, the single-story Kahala home has the best of everything: it even had an underground gasoline tank installed in the front yard, so one can fuel cars right in the garage. Found in Honolulu, this Hawaiian home is light, bright, and airy thanks to the white walls, vaulted ceilings, and large windows. At the planned Kakaako condo tower Ililani subject to HHFDC guidelines, below-market prices for units with one to two bedrooms range from $459,400 to $649,100. Disclaimer: The properties we may show you may be Locations LLC listings or listings of Its owned by George R. Roberts, the co-founder of a global leveraged buyout firm called Kohlberg Kravis Roberts & Co. (For an idea of how the business works, check out the 1990 book, later made into a movie, detailing his firms leveraged buyout of RJR Nabisco, entitled Barbarians at the Gate.) Just a month after we crowned a $27 million mansion as the state's most expensive home, a pricier lakefront mansion has splashed down on the market. Just two lots down from Michael Dells sprawling Kukio estate is another multi-structure compound, this one belonging to David L. Anderson, the managing director of Sutter Hill Ventures. Weisel is a three-time world masters cycling champion. But throw Slavic Ukrainians into Civil War with Russia First . Whether youre checking out Wailea, Makena, Kihei, Maalaea, Kaanapali, Kapalua, or Lahaina, each destination location is near some of the worlds best luxury resorts, world-class golf courses, plenty of fine dining, and high-end shopping, so youre never far from all the island excitement. 20 Kai Ala Drive. Moving to Hawaii, The Maui retreat has obviously inspired McCafferythe investment management firm of which he is the CEO is called Makena Capital Management. In Central Oahu, developer Castle & Cooke Hawaii delivered its first market-priced home at Koa Ridge in November and expects to have an initial increment of 140 affordable homes finished late this year and early next year as part of an agreement calling for 1,050 affordable homes at the3,500-home project between Waipio and Mililani. About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. [The owner] wanted the design to reflect that Barcelona style, recalled Yamamoto when HONOLULU interviewed him in 2005. The .7-acre lot is assessed at $13.3 million. An average home in the area will set you back around $863,632, according to Zillow. Million-dollar homes aren't common in most towns. The Top-25 Club turns out to be a whos who of tech CEOs, venture capitalists and other financial-service barons, almost all from out of state. Since 2007, 20 homes have sold for once unthinkable nine-figure price tags, though many more have tried and failed. Their guidelines clearly need revamping.. Now asking $4.9 million, the four-bedroom property boasts ocean, tri-island and harbor views. I have been told never to give two children equal shares. At $38 million, a seven-bedroom, 8.5-bath home. This one is really well done. 23). One note: We restricted this list to single parcels as defined by the county tax offices. If you have $3,995,000, then you can snap up this unique home in Haiku, Hawaii. Much of HHFDCs work helps developers tap federal and state tax credits that finance housing for low-income households. Spend your days in the sunshine and your nights listening to the ocean waves crash the foundation of this $7,995,000 home that sits on the water's edge. The property also includes a seperate caretaker's suite with kitchen. Hawaii Property Tax Calculator - SmartAsset Calculate how much you'll pay in property taxes on your home, given your location and assessed home value. For questions concerning these issues, consult with either the Hawaii Real Estate Commission, your Principal Broker, or an Attorney. the Saudi governmentAKA the . This estate may cost $19.5 million, but that price includes two homes on one incredible property. You can email me at inquiry@hawaiilife.com or via phone at (808) 370-3848. Note: Honolulu Board of REALTORS receives inquiries seeking professional advice; however the Honolulu Board of REALTORS staff is not qualified, nor licensed, by the state of Hawaii to properly address real estate or legal issues. Island and beachfront homes don't have to cost millions . Buyouts have been good for Roberts: Forbes ranked him No. 2,406 Sq. Log in now to continue reading this story. Data is deemed reliable but is not guaranteed accurate by the MLS. Under his management, the venture-capital company has invested, quite successfully, in tech-based startups; its portfolio includes a grab bag of up-and-comers in software, healthcare and computer technology. This Wailea house, the most expensive residential property on Maui, and one of three houses on our list within a 2-mile stretch of coastline, is owned by Thom Weisel, a financier who founded the San Francisco-based investment banking firm Thomas Weisel Partners Group. When it comes to luxury living, nowhere else in the world can compare to Maui. 3 spot even though it sits in the middle of acres of black lava rock in Kona; the luxury subdivision and golf course that will eventually surround it have yet to be built. Zillow (Canada), Inc. holds real estate brokerage licenses in multiple provinces. 442-H New York Standard Operating Procedures New York Fair Housing NoticeTREC: Information about brokerage services, Consumer protection noticeCalifornia DRE #1522444Contact Zillow, Inc. This enchanting Balinese-inspired Hawaiian real estate has a stunning outdoor area comprised of a koi pond, oceanfront pool, and waterfall. These formulas are out of whack, StormoGipson said. Not only is the lot 2.5 acres, there are 2.5 acres of conservation land in front, and another 3 acres of resort common area in back.