Fire sale prices hit the North Shore of Oahu!
Real estate is a tough game to play, but few know when to hold and fold better than Kelly Slater whose landholdings span the globe. Three months ago, Slater listed his sprawling Laniakea compound on “the most coveted street on the North Shore” for twenty mill, almost triple what he paid for it seven years earlier.
The reason for the surprise listing is unclear, although maybe the joint, as grand as it is, was more trouble than it was worth.
An examination of its price history on Zillow reveals Kelly Slater listed it for rent in 2018 for 80k a month, dropped it to 72k in 2019, 59k in 2019 before sitting on 45k in 2020.
No word if anyone actually took up the rental, even at the cut-price rate of 10k a week.
If you didn’t know, Laniakea is a little way off the super highway traffic of Pipeline, Rockies and Sunset. It’s back on the western side of Waimea Bay and is a raw righthand point break that will reward the intrepid surfer who ain’t afraid to brave the paddle that is also home to the less-than-friendly Hawaiian tiger shark. If you like lefts, just around the headland is a joint called Jocko’s.
In summer time, great place to watch turtles cruising the shallows. I once busted a kid’s goggles I swiped in my joy at seeing the happy animals when I tried tofu ’em over my fat head.
Anyway, three months on the market and no bites, a reflection, maybe, of its inflated price. It’s interesting to note the previous owner tried to sell it for twenty-two mill almost ten years ago and settled on the almost-eight mill Kelly Slater paid.
Closer to the action around Sunset and Pipe etc, beachfront houses are being sold for fire sale prices after the gov told owners they had to remove their rock retaining walls, and at their own expense.
Check this pretty little house, complete with separate studio, for one-and-a-half-mill.
Cheap, if you don’t mind watching your joint melt into the ocean.
