Kauai News

Major Kauaʻi North Shore Real Estate Purchases Involve Well-Known Buyers

Posted November 6, 2021, 1:36 PM HST ·Updated November 9, 7:28 AM

By Duane Shimogawa

The major recent purchases of a couple of pristine properties on Kauai’s North Shore involves well-known buyers.

However, these purchases do not involve Mark Zuckerberg, even though there may be some ties to the Facebook CEO.

One purchase involves a sprawling, ultra-luxe 14-acre estate in Kīlauea. Public records show that a Delaware entity called “2801 Kauapea Road LLC,” which traces back to San Francisco-based Iconiq Capital LLC, which was founded by Divesh Makan, a wealth manager, who advises top Facebook executives, including Zuckerberg.

Dara Beirne, who works for Iconiq Capital, is listed as the authorized for 2801 Kauapea Road LLC on the sales deed. The Kīlauea estate, which encompasses 9,249-square-feet of living space along with a resort-style pool and spa, as well as fruit orchards, a barn and guest house, was sold for $21.25 million.

The total tax assessed value of the property is about $4.9 million, public records show.

Neal Norman of Hawaiʻi Life represented both the buyer and seller in this major sales transaction. When reached Thursday, Norman declined comment.

Another high net-worth individual could also be the buyer of the one-acre estate called “Wailana Malie” for $10.5 million.

The property, which includes a 3,133-square-foot, four-bedroom, 4.5 bathroom residence, won HGTV’s 2020 Ultimate House Hunt competition in the Curb Appeal category.

Winston Welborn of Hawaiʻi Life was the listing agent. He did not respond to a request for comment. This purchase also does not involve Zuckerberg, although there may be some ties to the Facebook CEO.

The property is located in the Kīlauea area on Kauaʻi’s North Shore, which has been a red-hot area for high-priced residential real estate transactions. The property has a total tax-assessed value of about $6.6 million.

Zuckerberg has utilized San Francisco tax consultancy firm executive Tom van Loben Sels for other real estate purchases, and the tax firm exec is named on public documents that traces back to the “Wailana Malie LLC” entity that is listed as the buyer of the Kīlauea property.

The address of Wailana Malie LLC also lists the office address of van Loben Sels’ tax consultancy company Apercen Partners LLC.

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