This article appeared in Fortune Life on August 10th and was written by Erin Carlyle. We don’t usually announce when homes change ownership, however when it reaches the main stream media we will put it on the blog. It’s also a chance to welcome Howard and his family to Hualalai. We hope that we will still see Bill and Lek around the property.
Starbucks’ billionaire CEO Howard Schultz has closed on a $25 million, eight-bedroom home in the exclusive Four Seasons development in Hawaii’s Hualalai resort area.
The 1.8-acre property hit the MLS in late January with a price tag of $33 million. The seller was William Jahnke, the former head of Well [sic] Fargo Investment Advisors. Harold Clarke, with the high-end brokerage Luxury Big Island, represented both the buyer and the seller but declined to reveal details. However, other sources confirmed the deal.
Schultz’s new home contains 10,641 square feet of living space. Hualalai boasts two golf courses and multiple sports and beach clubs and swimming facilities. Its neighbor just to the south is Kukio, Hawaii’s most exclusive community, where Michael Dell‘s 18,500-square-foot Raptor Residence lies on that development’s prime lot.
“Basically this is the best option on Hualalai for a house right now,” Clarke said of the home, which was the largest property for sale in the resort. “This is as good as it gets.”
Schultz’s new home sits on the edge of the resort’s golf course and is set back from the Pacific Ocean, with views of mountains, lava rock, and coconut trees. It features nine bathrooms, a game room and a media room, a Jacuzzi and an infinity-edged pool. The residence actually stretches over two lots, with a main home on one and a series of four individual pods on the other. The home’s walls are covered in teak.
The property debuted as a pocket, off-the-MLS listing late last year before hitting the multiple listings service earlier this year.
Schultz became a billionaire via his stake in Starbucks. Friends including David Geffen have urged him to run for president on the Democratic ticket, but Schultz has said he is not interested for now.Time magazine put him on the cover in February. He could not be immediately reached regarding this deal.
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