By Aaron Spray
Worth half a billion dollars today, this small, remote Hawaiian island has since earned one of the most expensive island prices in the world.
Normally when one thinks of private islands, one thinks of small isolated islands with a single resort on them for their rich owners. But Lanai is the sixth-largest of the Hawaiian Islands and is 98% owned by Larry Ellison. It has a town on it and one can visit and stay on the luxury Four Seasons Resorts - it seems Larry Ellison has not just purchased it for his private use.
There are a number of private islands around the world where one can enjoy a vacation in privacy, but none are as expensive as Lanai.
Larry Ellison And His Purchase Of Lanai
Larry Ellison is the founder and chairman of the Oracle Corporation - a mega-company that at the time of writing was the 47th most valuable company in the world and valued at $240 Billion.
- Larry Ellison: Worth $125 Billion As At The Time Of Writing
After the billionaire Larry Ellison visited the island of Lanai, he loved it so much that he decided to buy it in 2012. He proceeded to buy 98% of the island for a sum of around $300 million. The island includes a town and two Four Seasons resorts.
Today it is not clear how much the island is worth, Forbes in 2012 suggested it was worth $500 million while Traveltriangle suggests it's worth a whopping $610,000.
If one has (really) deep pockets, consider staying here next time one visits Hawaii.
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The Island Of Lanai
The only settlement on this island of note is the small town of Lanai City, Larry Ellison owns some 98% of the island while the remaining 2% is owned by the state of Hawaii and privately owned homes (includes the harbor).
Lanai is actually the smallest inhabited island that visitors are able to visit in Hawaii. It is located only nine miles from Maui.
According to the Hawaiian legends, there were once man-eating spirits on the island. The Maui chiefs believed these myths for generations. They were eventually driven out by either the prophet Lanikāula or the unruly Maui prince Kauluāʻau.
- Name: The Island is Colloquially Knowns as Pineapple Island Because It Used To Have An Island-Wide Pineapple Plantation
- Size: 140 Square Miles or 364 Square Kilometers
- Population: Around 3,100
Some things seem to really go up in value in this world. Back in 1909, the island was sold to William G. Irwin for one dollar.
- Sold: the Island Was Sold in 1909 For $1
It is reported that Ellison plans to invest as much as $500 million to improve the island's infrastructure and to create an environmentally friendly agricultural industry. It has also been reported he has spent over $450 million to remodel the Four Seasons Resort Lanai.
While being a private island, one can visit the island (for a healthy fee). Guests are treated like royalty and receive a dose of local culture the instant they arrive via a multimillion-dollar Polynesian art collection.
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The Four Seasons Hotel And Resorts
At the Four Seasons Hotel and Resorts, one can enjoy a penthouse suite with three plush bedrooms. These come complete with drop-down TVs, ocean views, and handmade parchment wall coverings.
Spread around the outdoor space are waterfalls and secluded dipping pools. The whole design of the resort is so that guests feel like they are the only ones there and that the island is their's alone.
According to CNBC in $17,000 the penthouse suite sets one back a punishing $21,000 a night and is the most expensive hotel suite in all of Hawaii. Outside one will see koi ponds and a botanical garden. These are planted with native plants that enhance an already lush landscape.
While that may sound like a lot, it's only around 7% of the most expensive hotel in the world. The most expensive hotel is a luxury submarine hotel that goes from $240,000 a night.
- Most Expensive In Hawaii: At $21,000 The Penthouse Suite Is The Most Expensive In Hawaii
- Most Expensive In The World: The Most Expensive Hotel In The World Goes for From $240,000 per Night
CNBC reports the General manager, Tom Reolens as saying, “You have this island to yourself, you have all the activities one would wish to do right here.”
One of the activities he speaks of includes an on-site golf course (designed by golfer Jack Nicklaus) where one can enjoy ocean views from every hole. Another activity is horse riding. Bill Gates - yes that Bill Gates, loved playing at this golf course so much that he even got married at the 17th hole.
- Bill Gates: Got Married At The Resort's Golf Course
Soaring high above one can enjoy Ellison's personal favorite pastime - sightseeing by plane. For another $1,600 one can take flying lessons.
- Flying Lessons: One can Have Flying Lessons Here for $1,600
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As a seasoned expert and enthusiast in luxury travel and high-net-worth acquisitions, I bring a wealth of knowledge and insight into the opulent world of private islands. With a keen eye for detail and a deep understanding of the subject matter, I'll dissect the key concepts embedded in the article about Larry Ellison's acquisition of the Hawaiian island of Lanai.
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Larry Ellison's Net Worth and Oracle Corporation:
- Larry Ellison, the founder and chairman of Oracle Corporation, is a billionaire with a net worth of $125 billion at the time of the article.
- Oracle Corporation is a mega-company, ranked as the 47th most valuable company globally, with a valuation of $240 billion.
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Lanai's Acquisition and Ownership:
- Larry Ellison purchased 98% of Lanai, the sixth-largest Hawaiian Island, in 2012 for approximately $300 million.
- Lanai is not merely a private retreat; it features a town and two luxurious Four Seasons Resorts, making it a unique investment.
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Lanai's Value and Ownership Details:
- Lanai's value is estimated to be around $500 million according to Forbes (2012) and as high as $610,000 according to Traveltriangle.
- The remaining 2% of Lanai is owned by the state of Hawaii and includes privately owned homes and the harbor.
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Lanai's Characteristics:
- Known colloquially as "Pineapple Island" due to its history of having an island-wide pineapple plantation.
- Lanai is the smallest inhabited island in Hawaii, located only nine miles from Maui.
- It spans 140 square miles or 364 square kilometers with a population of around 3,100.
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Larry Ellison's Plans and Investments:
- Ellison plans to invest up to $500 million in Lanai's infrastructure and create an environmentally friendly agricultural industry.
- Over $450 million has been spent remodeling the Four Seasons Resort Lanai.
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Four Seasons Hotel and Resorts:
- The Four Seasons Resort Lanai offers a penthouse suite at $21,000 a night, making it the most expensive hotel suite in Hawaii.
- The resort is designed to give guests a sense of exclusivity, with amenities such as drop-down TVs, ocean views, and a Polynesian art collection.
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Activities and Amenities on Lanai:
- Guests at the Four Seasons can enjoy activities such as golf on a course designed by Jack Nicklaus, horse riding, and flying lessons for $1,600.
- Bill Gates got married at the resort's golf course, showcasing the island's allure to high-profile individuals.
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Comparison with Other Luxury Hotels:
- The article mentions the cost of the penthouse suite at $21,000, highlighting it as the most expensive in Hawaii, but only around 7% of the cost of the world's most expensive hotel, a luxury submarine hotel priced at $240,000 per night.
In summary, the article delves into the lavish lifestyle associated with Lanai, Larry Ellison's strategic investments, and the extravagant offerings of the Four Seasons Resort, providing a glimpse into the allure of high-end private island experiences.
